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Consider a 10% coupon bond with a face value of $1, 000, a price of $860, and 10 years to maturity. Assume that the bond

Consider a 10% coupon bond with a face value of $1, 000, a price of $860, and 10 years to maturity. Assume that the bond pays interest on a semiannual basis. Determine the annual yield to maturity.

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