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Please answer all parts of the question and please use formulas or calculator functions. Please no excel! A 26 year, 5.4%, $1,000 bond that pays

Please answer all parts of the question and please use formulas or calculator functions. Please no excel!

A 26 year, 5.4%, $1,000 bond that pays interest semiannually is selling for $932.60. What is the YTM on this bond? Then indicate how we interpret the YTM on a bond? What is the bonds Current Yield (not to be confused with the YTM)? Why do the YTM and CY differ for this bond?

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