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A bond trading at its no-arbitrage value is priced at a premium. The sum of the present value of the bond's cash flows discounted at spot rates is:
A
Less than the sum of the present values of the bond's cash flows discounted at its yield to maturity.
B
Equal to the sum of the present values of the bond's cash flows discounted at its yield to maturity.
C
Greater than the sum of the present values of the bond's cash flows discounted at its yield to maturity.
