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e. At the price the corporate bond would be if it where default free (i.e., your answer to d above, if you did it correctly),

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e. At the price the corporate bond would be if it where default free (i.e., your answer to d above, if you did it correctly), its effective annual yield to maturity to be .03895 (3.895%). At its actual market value of $1020, is it's actual yield to maturity higher, lower, or equal to 3.895%. Circle one: higher lower equal to Explain why

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