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Barry Cuda is considering the purchase of the following Builtrite bond: $1000 par, 3 1/4% coupon rate, 20 year maturity that is currently selling for

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Barry Cuda is considering the purchase of the following Builtrite bond: $1000 par, 3 1/4% coupon rate, 20 year maturity that is currently selling for $960. If Barry purchases this bond, what would his approximate yield to maturity be? 3.55% 3.76% 4.14% 4.74%

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