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Ameristar Hotels has an issue of $1,000 par bonds with 21 years remaining till maturity. The bond has a coupon rate of 7.75%. The current

Ameristar Hotels has an issue of $1,000 par bonds with 21 years remaining till maturity. The bond has a coupon rate of 7.75%. The current market price of the bond is $1,350. What is the current yield of the bond?

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