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Last year, Betty Mitchell purchased a $1000 Michigan Auto Parts corporate bond with an annual interest rate of 7.25%. The bond's current market price is

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Last year, Betty Mitchell purchased a $1000 Michigan Auto Parts corporate bond with an annual interest rate of 7.25%. The bond's current market price is $940. Calculate the following. If necessary, round all answers to two decimal places. If necessary, refer to the list of financial formulas. 1. Annual Interest: X ? 2. Current yield

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