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You just purchase a bond that matures in 8 years. The bond has a face value of $ 1 0 0 0 and an annual

You just purchase a bond that matures in

8

years. The bond has a face value of $

1000

and an annual coupon rate of

9 % .

The bond has a current yield of

9.27 % .

What is the bond's yield to maturity?

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