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Harold Reese must choose between two bonds: Bond X pays $92 annual interest and has a market value of $895. It has 10 years to

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Harold Reese must choose between two bonds: Bond X pays $92 annual interest and has a market value of $895. It has 10 years to maturity Bond Z pays $82 annual interest and has a market value of $920. It has four years to maturity. Assume the par value of the bonds is $1,000. a. Compute the current yield on both bonds. (Do not round intermediate calculations. Input your answers as a percent rounded to 2 decimal places.) Current Yield Bond X Bond Z b. Which bond should he select based on your answers to part a

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