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Consider the following information from the close of trading on November 24, 2020 for a coupon bond with a face value of $1,000 and a maturity date of May 6, 2023:Coupon rate: 2.1%Price: $1,027Yield to maturity: 1%The bond's current yield was ______________-. (Round your response to two decimal places.)Why is the bond's yield to maturity less than its coupon rate?
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