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The current price of a 8 - year corporate coupon bond that has a coupon rate of 8 % is $ 9 7 0 .

The current price of a

8 -

year corporate coupon bond that has a coupon rate of

8 %

is $

970 .

Estimate the bond

s yield to maturity if par value of the bond is $

1, 000

and the bond pays semi

-

annual coupon payments

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