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An investor purchases a $1,000 face value bond with 8 years to maturity for a price of $887.66. The bond pays coupons every 6-months at

An investor purchases a $1,000 face value bond with 8 years to maturity for a price of $887.66. The bond pays coupons every 6-months at a rate of 7% APR compounded semi-annually. What is the bond's yield to maturity (APR) today when purchased?

A. 12%

B. 11%

C. 10%

D. 9%

E. 8%

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