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American Off-Line has issued a bond that matures in 10 years. The bond has a face value of $1,000 and sells for $985. The bond

American Off-Line has issued a bond that matures in 10 years. The bond has a face value of $1,000 and sells for $985. The bond has a 7 percent annual coupon rate. The coupon payments are made annually. What is the bond's current yield?

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