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The Saleemi Corporation's $1,000 bonds pay 7 percent interest annually and have 11 years until maturity. You can purchase the bond for $905. a.What is

The Saleemi Corporation's $1,000 bonds pay 7 percent interest annually and have 11 years until maturity. You can purchase the bond for $905.

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

7 percent?

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