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(b) A coupon bond is 3.3 years to maturity. Its face value is 100 and its annual coupon rate is 10% with semi-annual payment. If

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(b) A coupon bond is 3.3 years to maturity. Its face value is 100 and its annual coupon rate is 10% with semi-annual payment. If the price of the bound is 93.05, determine its bond yield. [5 marks]

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