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Work from Home Equipment Inc. has bonds with annual payments. The bonds have 16 years to maturity and currently sell for $870. At this price,

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Work from Home Equipment Inc. has bonds with annual payments. The bonds have 16 years to maturity and currently sell for $870. At this price, the yield to maturity on the bonds is 7.5%. Please find the current yield on Work from Home Equipment's bonds. (Par value is $1000.)

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