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Consider a U . S . municipal bond with settlement on September 1 4 , 2 0 1 8 . The bond matures on September

Consider a U

.

.

municipal bond with settlement on September

14, 2018 .

The bond matures on September

15, 2018 .

The bond has a coupon rate of

29.32 %

and trades at a clean price of

100 .

The bond pays a semi

-

annual coupon. What is the bond

s yield?

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