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The Pioneer Petroleum Corporation has a bond outstanding with an $80 annual Interest payment, a market price of $850, and a maturity date in six

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The Pioneer Petroleum Corporation has a bond outstanding with an $80 annual Interest payment, a market price of $850, and a maturity date in six years. Assume the par value of the bond is $1.000 Find the following: (Use the approximation formula to compute the approximate yleld to maturity and use a calculator or Excel to compute the exact yleld to maturity. Do not round Intermediate calculations. Input your answers as a percent rounded to 2 decimal places.) a Coupon rate b. Current yield -1. Approximate yield to maturity 0-2 Exact yield to maturity 8.001% 9411

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