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Penny Pincher Discount Grocers has issued a bond with a coupon rate of 11%. It recently closed at a price of $1023.75. What is the

Penny Pincher Discount Grocers has issued a bond with a coupon rate of 11%. It recently closed at a price of $1023.75. What is the bond's current yield?

a. 10.75%

b. 3.25%%

c. 12.8%

d. 8.9%

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