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A 3.70 percent coupon municipal bond has 15 years left to maturity and has a price quote of 95.65. The bond can be called in

A 3.70 percent coupon municipal bond has 15 years left to maturity and has a price quote of 95.65. The bond can be called in four years. The call premium is one year of coupon payments. (Assume interest payments are semiannual and a par value of $5,000.) Compute the bonds current yield. (Round your answer to 2 decimal places.)

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