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1. A bond with 15 years to maturity has an annual interest payment of $40. If the bond sells for its par value, what are the bond's current yield and yield to maturity?

2. Appraising the value of real estate is a difficult task. The three most common methods are the market approach, cost approach, and income approach. What circumstances justify the use of each appraisal method? What are the limiting assumptions of each method?

Financial Management, Finance

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