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Jack bought a 10-year bond that pays 8.25 percent annually for $977.14. The face value is $1,000. What is the yield to maturity on this

Jack bought a 10-year bond that pays 8.25 percent annually for $977.14. The face value is $1,000. What is the yield to maturity on this bond? (USE EXCEL or FINANCIAL CALCULATOR. As a percentage to two decimal places)

Select one: A. 7.6% B. 8.6% C. 9.7% D. 10.6%

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