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You are considering the purchase of a Pure Discount Bond with a Face Value of $1,000, which matures in six years. In the markets this

You are considering the purchase of a Pure Discount Bond with a Face Value of $1,000, which matures in six years. In the markets this bond is selling for $793.97. If you purchase the bond at this price what is the Yield-to-Maturity (YTM) on the investment? (The answer is a percent, round your answer to two decimal place, e.g. 4.75%)

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