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A bond with a par value of $1,000.00 and an annual coupon rate of 9.75% has a yield to maturity of 6.90%. If the bond

A bond with a par value of $1,000.00 and an annual coupon rate of 9.75% has a yield to maturity of 6.90%. If the bond has 14 years to maturity, what is its current yield?

a) 8.03%

b) 7.88%

c) 7.80%

d) 0.00%

e) 8.09%

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