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The Pennington Corporation issued a new series of bonds on this date in 2015. The bonds were sold at par ($1,000), had a four percent

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The Pennington Corporation issued a new series of bonds on this date in 2015. The bonds were sold at par ($1,000), had a four percent annual coupon, and were to mature in 30 years. a. What was the YTM of Pennington's bonds at time of issue? b. Find the price of a bond today if the level of interest rates has risen to six percent. c. Find the current yield.|

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