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(Expected rate of return and current yield) Time Warner has bonds that are selling for $1,309. The coupon interest rate on the bonds is 8.70

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(Expected rate of return and current yield) Time Warner has bonds that are selling for $1,309. The coupon interest rate on the bonds is 8.70 percent and they mature in 16 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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