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AEP's bonds currently sell for $932. They have a 15-year maturity, an annual coupon rate of 13%, and a par value of $1,000. What is

AEP's bonds currently sell for $932. They have a 15-year maturity, an annual coupon rate of 13%, and a par value of $1,000. What is their current yield? (Express your answer as a percent rounded to two decimals.)

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