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You own a bond with a par value of $1,000 and a coupon rate of 8.00% (annual coupon). It is currently worth $1,040. What is

You own a bond with a par value of $1,000 and a coupon rate of 8.00% (annual coupon). It is currently worth $1,040. What is its yield to maturity? The bond has 8 years to maturity.

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