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You buy a fixed-rate coupon bond that has a face value of $1000 and 10 years to maturity. The current market price is $860, and

You buy a fixed-rate coupon bond that has a face value of $1000 and 10 years to maturity. The current market price is $860, and the coupon rate is 7 percent with semiannual payments. What is the yield to maturity for this bond?

4.58%

9.17%

3.50%

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