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Company Y bond carried a 7 percent coupon, paid semiannually. The par value is $1,000 and the bond matures in five years. If the bond

Company Y bond carried a 7 percent coupon, paid semiannually. The par value is $1,000 and the bond matures in five years. If the bond currently sells for $875, what is the yield to maturity? What is the effective annual yield?

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