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Heath Foods's bonds have 22 years remaining to maturity. The bonds have a face value of $1,000 and a yield to maturity of 7%. They
Heath Foods's bonds have 22 years remaining to maturity. The bonds have a face value of $1,000 and a yield to maturity of 7%. They pay interest annually and have a 6% coupon rate. What is their current yield? Round your answer to two decimal places.
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