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The Pioneer Petroleum Corporation has a bond outstanding with an $60 annual interest payment, a...

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Accounting

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The Pioneer Petroleum Corporation has a bond outstanding with an $60 annual interest payment, a market price of $840, and a maturity date in five years. Assume the par value of the bond is $1,000. Find the following: (Use the approximation formula to compute the approximate yield to maturity and use the calculat me the compute the exact yield to maturity. Do not round intermediate calculations. Input your answers as a percent rounded to 2 decimal places.)

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