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A bond has a $1,000 par value, 10 years to maturity, a 12 percent annual coupon, and sells for $1,042. What is the bonds current

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  1. A bond has a $1,000 par value, 10 years to maturity, a 12 percent annual coupon, and sells for $1,042. What is the bonds current yield (CY)?

    a.

    10.42%
    b.

    11.52%
    c.

    11.28%
    d.

    12.00%
    e.

    9.99%

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