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Problem 3. Bonds issued by the Etling Corporation have a price of $790.55 and a coupon rate of 8 percent which is paid annually. The

Problem 3. Bonds issued by the Etling Corporation have a price of $790.55 and a coupon rate of 8 percent which is paid annually. The bonds will mature in 14 years and the face value is $1,000. What is the yield to maturity? (5 points)

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