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You are considering the purchase of a Pure Discount Bond with a Face Value of $100,000, which matures in eighty-eight days. In the markets this

You are considering the purchase of a Pure Discount Bond with a Face Value of $100,000, which matures in eighty-eight days. In the markets this bond is selling for $99,255.05. If you purchase the bond at this price what is the annualized Yield-to-Maturity (YTM) on the investment? (The answer is a percent, round your answer to two decimal places, e.g. 4.75)

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