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EnvironCo is performing vehicle inspections, with emphasis on emission standards. The company issued 7% annual coupon bonds three years ago. These bonds are now selling

EnvironCo is performing vehicle inspections, with emphasis on emission standards. The company issued 7% annual coupon bonds three years ago. These bonds are now selling at a YTM of 8.5%.

If the current bond price is $958.74, what is the remaining maturity of these bonds?

Answer [a]years:

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