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Broke Benjamin Co. has a bond outstanding that makes semiannual payments with a coupon rate of 6 percent. The bond sells for $981.45 and matures

Broke Benjamin Co. has a bond outstanding that makes semiannual payments with a coupon rate of 6 percent. The bond sells for $981.45 and matures in 24 years. The par value is $1,000. What is the YTM of the bond? Multiple Choice

6.15%

5.84%

5.53%

4.61%

3.07%

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