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A 5.5% coupon municipal bond has 16 years left to maturity and has a price of 92.55. The bond can be called in 9 years.

A 5.5% coupon municipal bond has 16 years left to maturity and has a price of 92.55. The bond can be called in 9 years. The call premium is one year of coupon payments. Compute the bond's current yield. Assume semi annual interest payments and a par value of $5000

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