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A 12-year bond pays an annual coupon of 9.5 percent. The bond has a yield to maturity of 8.5 percent and a par value of

A 12-year bond pays an annual coupon of 9.5 percent. The bond has a yield to maturity of 8.5 percent and a par value of $1,000. What is the bond's current yield? 6.36% 9.14% 2.15% 8.88% 10.21%

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