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Current Yield for Annual Payments Heath Food Corporation s bonds have 2 2 years remaining to maturity. The bonds have a face value of $

Current Yield for Annual Payments

Heath Food Corporation

s bonds have

22

years remaining to maturity. The bonds have a face value of $

1, 000

and a yield to maturity of

8 % .

They pay interest annually and have a

9 %

coupon rate. What is their current yield? Do not round intermediate calculations. Round your answer to two decimal places.

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