Question: Suppose you read that a bond with a face value of $1,000 and a coupon of $80 per year has a yield to maturity of

Suppose you read that a bond with a face value of $1,000 and a coupon of $80 per year has a yield to maturity of exactly 8%. How many years remain until maturity?

I. Greater than 20 years.

II. Greater than 10 years but less than 20.

III. Less than 10 years.

A.III only
B.II only
C.I only
D.Cannot be computed since price is not given
E.I, II, or III may be correct

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