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A coupon bond that pays interest of $60 annually has a par value of $1,000, matures in 5 years, and is selling today at a

A coupon bond that pays interest of $60 annually has a par value of $1,000, matures in 5 years,

and is selling today at a $5.25 discount from par value. The current yield o

n this bond is _________.

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