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Yes, the word 'it' is a pronoun, a personal pronoun, a word that takes the place of a noun for a thing.

The pronoun 'it' is a singular pronoun which functions as a subject or an object in a sentence.

Examples:

That poem was written centuries ago but itis still relevant today. (subject of the second part of the compound sentence)

My car is new. I bought it at a year-end discount. (direct object of the verb 'bought')

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9y ago

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