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A company has bonds with a face value of $1,000, with a coupon rate of 15%, maturing in 8 years. The bonds make quarterly payments

A company has bonds with a face value of $1,000, with a coupon rate of 15%, maturing in 8 years. The bonds make quarterly payments and are currently selling at a 3% discount.

a) What is the current yield on the bonds?

b) And its yield to maturity?

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