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Melissa purchased a $1000 Canada Bond that matures in 20 years. The bond has a coupon rate of 9.35% and a purchase price of $1067.50.

Melissa purchased a $1000 Canada Bond that matures in 20 years. The bond has a coupon rate of 9.35% and a purchase price of $1067.50. Interest is paid May 15 and November 15. What will be the annual yield to maturity? a) 6.53% b) 8.44% c) 8.72% d) 9.35%

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