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You buy a bond for $967 that has a coupon rate of 6.80% and a maturity of 8-years. A year later, the bond price is

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You buy a bond for $967 that has a coupon rate of 6.80% and a maturity of 8-years. A year later, the bond price is $1,112. (Assume a face value of $1,000 and annual coupon payments.) a. What is the new yield to maturity on the bond? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Answer is complete but not entirely correct. Yield to maturity 7.36 %

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