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jay aquire is considered the purchase of the following: a builtrite $1000 par, 6 3/8% coupon rate, 15 year maturity bond which is currently selling

jay aquire is considered the purchase of the following: a builtrite $1000 par, 6 3/8% coupon rate, 15 year maturity bond which is currently selling for $1040. If Jay purchases this bond what would his approximate yield to maturity be?

5.72%

6.21%

5.96%

6.45%

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