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Apply the Yield to Maturity (YTM) calculation to the following bond and explain your calculation and how to interpret it. What is the YTM of

Apply the Yield to Maturity (YTM) calculation to the following bond and explain your calculation and how to interpret it.

What is the YTM of a bond with a current price of $962 maturing at par value in 7 years with semi-annual dividends and a coupon of 6%?

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