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The Pioneer Petroleum Corporation has a bond outstanding with an $90 annual interest payment, a market price of $860, and a maturity date in four years

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The Pioneer Petroleum Corporation has a bond outstanding with an $90 annual interest payment, a market price of $860, and a maturity date in four years. Assume the par value of the bond is $1,000.

 

Find the following:

a. coupon rate

b. current yield

c. approximate yield to maturity

d. current yield to maturity