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(Expected rate of retum and current yield) Time Warner has bonds that are selling for $687. The coupon interest rate on the bonds is 12.25

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(Expected rate of retum and current yield) Time Warner has bonds that are selling for $687. The coupon interest rate on the bonds is 12.25 percent and they mature in 29 years. What is the yield to maturity 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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