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Reed buys a 20-year, $15,770, zero-coupon bond with an annual YTM of 4.26%. If he sells the bond after 7 years for $9,225.71, he will

Reed buys a 20-year, $15,770, zero-coupon bond with an annual YTM of 4.26%. If he sells the bond after 7 years for $9,225.71, he will have a positive profit.

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