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Consider a corporate bond with a 3% coupon rate, paid semi-annually, $1000 par value and a current market price of $975.25. It matures in exactly

Consider a corporate bond with a 3% coupon rate, paid semi-annually, $1000 par value and a current market price of $975.25. It matures in exactly 8 years. What is the implied yield to maturity? [Choose closest]

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