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M&M Fund has purchased a bond with 8 years remaining until maturity and a $1,000 face value. The bond is currently selling at a price
M&M Fund has purchased a bond with 8 years remaining until maturity and a $1,000 face value. The bond is currently selling at a price of $950. The bond offers 9% coupon rate with interest paid annually. The bond may be called in 4 years at a call price of $1,060. What is the bonds yield to maturity (YTM
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