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PLEASE BREAKDOWN YOUR ANSWER, THANK YOU Alex purchased a $1,000 par value bond one year ago at a price of $1,008. At the time of

PLEASE BREAKDOWN YOUR ANSWER, THANK YOU

Alex purchased a $1,000 par value bond one year ago at a price of $1,008. At the time of purchase, the bond had 14 years to maturity and a 6 percent, semiannual coupon. Today, the yield to maturity of changed to 6.5 percent and he sold the bond. What is his realized yield as of today?

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