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What is the yield to maturity for this bond

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Reference no: EM131109079

A corporation has an outstanding bond with the following characteristics:

Coupon interest rate 6%
Interest payments semiannually
Face value $1,000
Years to maturity 8
Current market value $902.81

What is the yield to maturity (YTM) for this bond?

Reference no: EM131109079

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