A 12-year bond pays an annual coupon of 8.5 percent. The bond has a yield to maturity of 9.5 percent and a par value of $1,000. What is the bond's current yield?
A) 6.36%
B) 2.15%
C) 8.95%
D) 9.14%
E) 10.21%
Correct Answer:
Verified
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