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Footsteps Co. has a bond outstanding with a coupon rate of 5.5 percent and annual payments. The bond currently sells for $1,000.41, matures in 19

Footsteps Co. has a bond outstanding with a coupon rate of 5.5 percent and annual payments. The bond currently sells for $1,000.41, matures in 19 years, and has a par value of $1,000. What is the YTM of the bond?

Multiple Choice

5.50%

4.95%

5.50%

4.58%

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