A 12-year U.S. Treasury bond with a par value of $1,000 is currently selling for...
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A 12-year U.S. Treasury bond with a par value of $1,000 is currently selling for $1,078 from various security dealers. The bond carries a 4-percent coupon rate with payments made annually. If purchased today and held to maturity, what is its expected yield to maturity? Answer: __________% (two decimal points)
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