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Alpha Co. has bonds outstanding with 13 years left to maturity. The bonds have a...

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Finance

Alpha Co. has bonds outstanding with 13 years left to maturity. The bonds have a 6% annual coupon bond rate and were issued 2 years ago their par value. However, due to changes in the interest rates, the bond's market price has fallen 3%, each year. We know that the maturity value is $1,000. What is the yield to maturity?

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