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You have just purchased a regular bond. The has a coupon rate of 6.4%. Coupons are paid annually. The bond has 26 years to maturity.

You have just purchased a regular bond. The has a coupon rate of 6.4%. Coupons are paid annually. The bond has 26 years to maturity. The bond has a face value of $1,000. You paid $840 for the bond. What is the current yield on the bond? (You are not being asked to calculate the yield to maturity.)

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