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you purchased a bond last years that pays 8% annual coupon with a face value of $1,000. At the time of purchase, the bond had

you purchased a bond last years that pays 8% annual coupon with a face value of $1,000. At the time of purchase, the bond had a yield to maturity of 10% and had 10 years until maturity. Today, the bond trades at a yield to maturity of 9%.

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