The Pioneer Petroleum Corporation has a bond outstanding with an exist60 annual interest payment, a...
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The Pioneer Petroleum Corporation has a bond outstanding with an exist60 annual interest payment, a market price of exist840, and a maturity date in five years. Assume the par value of the bond is exist1,000. Find the following: (Use the approximation formula to compute the approximate yield to maturity and use the calculator method to 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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