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An Investor purchased an NCD a year ago in the secondary market for $970,000.00. He redeems it today upon maturity and receives $1,000,000.00. He also

An Investor purchased an NCD a year ago in the secondary market for $970,000.00. He redeems it today upon maturity and receives $1,000,000.00. He also receives interest of $40,000. His annualized yield on the investment is

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