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Shipping Inc issues a quarterly, 16 year bond with a par of 1,000 and a coupon rate of 13%. If the current price of the

Shipping Inc issues a quarterly, 16 year bond with a par of 1,000 and a coupon rate of 13%. If the current price of the bond is $1,337.45, then the yield to maturity on the bond is approximately 2.25%. True False

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