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XYZ issued a 15-year bond that has $1,000 par value, pays 7% annual coupon rate and is selling for $960. Compute the yield-to-maturity on the

XYZ issued a 15-year bond that has $1,000 par value, pays 7% annual coupon rate and is selling for $960. Compute the yield-to-maturity on the bond if the coupons are distributed semiannually.

Select one:

a. 9.11%

b. 3.72%

c. 7.45%

d. 4.82%

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