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Gwendolyn Francis is interested in buying a bond that pays $70 annually. The current price of the bond is $920. What is her current yield?

Gwendolyn Francis is interested in buying a bond that pays $70 annually. The current price of the bond is $920. What is her current yield? (Round your answer to 3 decimal places.)

Multiple Choice

7.609%
3.040%
3.480%
6.090%
6.960%

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