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What is the yield to maturity on a $1,000 par value 8 1/4 % bond purchased for $850? Assume the coupon is paid annually and

What is the yield to maturity on a $1,000 par value 8^1/4% bond purchased for $850? Assume the coupon is paid annually and the maturity is 13 years.

a. 8.63%

b. 9.32%

c. 10.41%

d. 11.51%

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