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The following table summarizes prices of various default-free zero-coupon bonds Maturity (years) 1 2 3 Price (per $100 face value) 94.52 89.62 85.43 Based upon

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The following table summarizes prices of various default-free zero-coupon bonds Maturity (years) 1 2 3 Price (per $100 face value) 94.52 89.62 85.43 Based upon the information provided in the table above, a) calculate the yield to maturity for each of the bonds (1-year-bond, 2-year-bond, and 3- year-bond) (10 marks) b) discuss whether the yield curve is upward sloping, downward sloping, or flat

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