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(b) A Japanese company has a bond outstanding that sells for 87 percent of its 100,000 par value. The bond has a coupon rate of

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(b) A Japanese company has a bond outstanding that sells for 87 percent of its 100,000 par value. The bond has a coupon rate of 5.4 percent paid annually and matures in 21 years. What is the yield to maturity of this bond

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