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Pryce wants to purchase a bond with 10 years remaining to maturity and a coupon rate of 8%. His required retum on the bond is

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Pryce wants to purchase a bond with 10 years remaining to maturity and a coupon rate of 8%. His required retum on the bond is 8.50% (APR) and the current price of the bond is $923. For Pryce, what excess return does the bond offer? 0.50% .0.69% 2.19x 0.50% 0.6986 1.19x

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