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Bud is considering purchasing an 8-year bond that is selling for $700. What is the YTM for this bond if it has a 6% coupon,

Bud is considering purchasing an 8-year bond that is selling for $700. What is the YTM for this bond if it has a 6% coupon, paid semi-annually?

Select one:

a. 12.17%.

b. 12.14%.

c. 12.05%.

d. 11.92%.

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