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Problem 6-33 Credit Risk (LO5) Suppose that Casino Royale has issued bonds that mature in 1 year. They currently offer a yield of 30%. However,

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Problem 6-33 Credit Risk (LO5) Suppose that Casino Royale has issued bonds that mature in 1 year. They currently offer a yield of 30%. However, there is a 50% chance that Casino will default and bondholders will receive nothing. What is the expected yield on the bonds? (Input the amount as a positive value and as a percent rounded to i decimal place Expected yield is a loss of %

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