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Company ABC issued a bond with a coupon rate of 5 . 3 5 percent per year and time to mature 2 0 years. The

Company ABC issued a bond with a coupon rate of

5.35

percent per year and time to mature

20

years. The bond has a par value of $

1, 000

and a market price of $

968 .

Coupons are paid semiannually. What is the yield to maturity?

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