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A Corporation s bonds have 1 2 years remaining to maturity. Interest is paid annually, the bonds have a $ 1 , 0 0 0

A Corporation

s bonds have

12

years remaining to maturity. Interest is paid annually, the bonds have a $

1, 000

par value, and the coupon interest rate is

8 % .

The bonds have a yield to maturity of

9 % .

What is the current yield of these bonds?

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