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Problem 5-3 Current Yield for Annual Payments Heath Foods's bonds have 8 years remaining to maturity. The bonds have a face value of $1,000 and

Problem 5-3 Current Yield for Annual Payments

Heath Foods's bonds have 8 years remaining to maturity. The bonds have a face value of $1,000 and a yield to maturity of 10%. They pay interest annually and have a 9% coupon rate. What is their current yield? Round your answer to two decimal places.

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