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The market price of an annual payment bond is $1,150.25. The bond has 14 years to maturity, a $1,000 face value, and pays an annual
The market price of an annual payment bond is $1,150.25. The bond has 14 years to maturity, a $1,000 face value, and pays an annual coupon of $100. What is the promised yield to maturity (YTM)?
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