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PG&E has an outstanding bond with a $1,000 par value and 11 years until maturity. It pays semiannual interest with a coupon rate of 4.5%.

PG&E has an outstanding bond with a $1,000 par value and 11 years until maturity. It pays semiannual interest with a coupon rate of 4.5%. If the current bond price is $1,045.00, what is the yield to maturity.

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