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Firm X has 7.25 percent coupon bonds on the market with 8 years to maturity. The bonds make semiannual payments and currently sell for 96.5

Firm X has 7.25 percent coupon bonds on the market with 8 years to maturity. The bonds make semiannual payments and currently sell for 96.5 percent of par. What is the current yield on X's bonds?

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