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Footsteps Co. has a bond outstanding with a coupon rate of 6.5 percent and annual payments. The bond currently sells for $960.11, matures in 21

Footsteps Co. has a bond outstanding with a coupon rate of 6.5 percent and annual payments. The bond currently sells for $960.11, matures in 21 years, and has a par value of $1,000. What is the YTM of the bond?

Multiple Choice

6.86%

6.77%

6.50%

5.72%

6.18%

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