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Clyde Sdale is considering the purchase of the following Builtrite bond: $1000 par, 81/4% coupon rate, 15 year maturity that is currently selling for $1045.

Clyde Sdale is considering the purchase of the following Builtrite bond: $1000 par, 81/4% coupon rate, 15 year maturity that is currently selling for $1045. If Clyde purchases this bond, what would his approximate yieid to rnaturity be? 830% 7.38% 6.97%

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