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A bond has 16 years until maturity, a coupon rate of 7.8%, and sells for $1,071. a. What is the current yield on the bond?

A bond has 16 years until maturity, a coupon rate of 7.8%, and sells for $1,071. a. What is the current yield on the bond? (Round your answer to 2 decimal places.) Current yield % b. What is the yield to maturity? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Yield to maturity %

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