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Q1.
A coupon bond with a face value of 1,000 rupees and a coupon rate of 8% per annum is trading in the secondary market at 950 rupees (at a discount). How does its Yield to Maturity (YTM) compare to its coupon rate?

(A)
YTM is strictly greater than 8%
(B)
YTM is strictly less than 8%
(C)
YTM is exactly equal to 8%
(D)
YTM is zero
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