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Pete Corporation issued bonds on January 1, 2005. The bonds had a coupon rate of 4%, with semiannual payments. The face value of the bonds

Pete Corporation issued bonds on January 1, 2005. The bonds had a coupon rate of 4%, with semiannual payments. The face value of the bonds is $1,000 and the bonds mature on January 1, 2020. What is the yield to maturity for a Pete bond on January 1, 2017 if the market price of the bond on that date is $980?

		4.72%
		5.46%
		8.23%
		7.16%

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