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Current Yield for Annual Payments Heath Food Corporation's bonds have 1 6 years remaining to maturity. The bonds have a face value of $ 1

Current Yield for Annual Payments

Heath Food Corporation's bonds have

16

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

1, 000

and a yield to maturity of

5 % .

They pay interest annually and have a

6 %

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

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