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Jay Aquire is considering the purchase of a Builtrite, $1000 par, 61/8% coupon rate, 5 year maturity bond which is selling for $975. If Jay

Jay Aquire is considering the purchase of a Builtrite, $1000 par, 61/8% coupon rate, 5 year maturity bond which is selling for $975. If Jay purchases the bond, what would his approximate yield to maturity be? 6.74% 6.84% 6.54% 6.64%

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