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What is the percent market yield

Please assist with the given problem.

What is the % market yield on a $1,000 bond that currently sells for $627.76 that is an 8% coupon rate bond that has 15 years remaining before maturity? Is it 7, 8, 14, or 16% and how do you solve this? Please show me the steps.

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Finance Basics: What is the percent market yield

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