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Cathy owns a $10,000. 12-year, 8% bond that makes annual coupon payments and was purchased at 107.5. The bond has 10 years remaining to maturity.

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Cathy owns a $10,000. 12-year, 8% bond that makes annual coupon payments and was purchased at 107.5. The bond has 10 years remaining to maturity. The annual yield on this bond is: 7.95% 07.05% 6.82% 6.94%

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