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20 A bond currently trades at a price of $982.86 in the market. The bond offers a coupon rate of 7%, paid annually, and has
20
A bond currently trades at a price of $982.86 in the market. The bond offers a coupon rate of 7%, paid annually, and has a maturity of 13 years. Face value is $1,000. What is the bond's Current Yield? Enter your answer as a percentage, rounded to two decimals, and without the percentage sign ('\%'). For example, if your answer is 0.123456, then it is equivalent to 12.35%, so you should enter 12.35 as the answer. Use the minus sign ('-') if the yield is negative Step by Step Solution
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