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( Expected rate of retum and current yield ) Time Warner has bonds that are selling for $ 1 , 1 7 9 . The

(Expected rate of retum and current yield) Time Warner has bonds that are selling for $1,179. The coupon interest rate on the bonds is 12.10 percent and they mature in 21 years. What is the yield to malurity on the bonds? What is the current yield?
a. The yield to maturity on the bond is %.(Round to two decimal places.)
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