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Elsinore Co. issued 15-year bonds four years ago at a coupon rate of 8.4%. The bonds make semiannual payments. If the quoted price on these

Elsinore Co. issued 15-year bonds four years ago at a coupon rate of 8.4%. The bonds make semiannual payments. If the quoted price on these bonds is 124.50, what is the bond's yield to maturity (approximately)? a) 2.96% 32.98% 7.68% 5.47% 5.91%**

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