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The Saleemi Corporation's $1,000 bonds pay 11 percent interest annually and have 9 years until maturity. You can purchase the bond for $855. a. What

The Saleemi Corporation's $1,000 bonds pay 11 percent interest annually and have 9 years until maturity. You can purchase the bond for $855.

a. What is the yield to maturity on this bond? (Round to two decimal places.)

b. Should you purchase the bond if the yield to maturity on a comparable-risk bond is 15 percent?

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