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A corporate bond is quoted at a price of 98.625 with a 7.500 coupon. The bond pays interest semiannually. What is the current yield on

A corporate bond is quoted at a price of 98.625 with a 7.500 coupon. The bond pays interest semiannually. What is the current yield on one of these bonds?

7.50%

7.60%

7.88%

7.97%

7.98%

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