3M bonds are currently trading at $1,104.07.The bonds have a face value of $1,000,an annual coupon rate of 6.75%,and mature in 4 years.What is the yield-to-maturity?
A) 3.89%
B) 6.25%
C) 8.04%
D) 7.25%
E) 6.85%
Correct Answer:
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