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Use the following information to answer questions 18-19. Four years ago, American Express Company (NYSE: AXP) issued a 20-year callable bond with a $1,000 maturity

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Use the following information to answer questions 18-19. Four years ago, American Express Company (NYSE: AXP) issued a 20-year callable bond with a $1,000 maturity value and an 8 percent coupon rate of interest. Interest is paid semiannually. The bond is currently selling for $1,156. What is the bond's yield to maturity (YTM)? 1) 6.43% 2) 7.00% 3) 7.40% 4) 8.00% 5) 8.55%

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