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3. Firm Zs bonds have a face value of $1,000 and are currently sold for 89.6% of the par. The bonds have a 6.5 percent

3. Firm Zs bonds have a face value of $1,000 and are currently sold for 89.6% of the par. The bonds have a 6.5 percent coupon rate. What is the current yield on these bonds?

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