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The bond shown in the following table pays interest annually. Par value $100 Coupon interest rate 9% Years to maturity 19 Current value $100 a.

The bond shown in the following table pays interest annually.

Par value $100

Coupon interest rate 9%

Years to maturity 19

Current value $100

a. Calculate the yield to maturity (YTM) for the bond. b. What relationship exists between the coupon interest rate and yield to maturity and the par value and market value of a bond? Explain.

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