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Jay Aquire is considering the purchase of the following a Builtrite, $1000 par, 63/8% coupon rate, 15 year maturity bond which is currently seling for

Jay Aquire is considering the purchase of the following a Builtrite, $1000 par, 63/8% coupon rate, 15 year maturity bond which is currently seling for $1060. If Jay purchases the bond, what would his approximate yield-to-maturify be? 601 6.25

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