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A coupon bond that pays interest of $65 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 $65 annually has a par value of $1,000, matures in 5 years, and is selling today at a $76.50 discount from par value. The current yield on this bond is _________.

Multiple Choice

7.04%
8.18%
6.95%
6.50%

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