A bond has a yield to maturity of 9.38 percent,a 7.5 percent annual coupon,a $1,000 face value,and a maturity date 21 years from today.What is the current yield?
A) 7.91 percent
B) 8.47 percent
C) 9.04 percent
D) 9.38 percent
E) 9.46 percent
Correct Answer:
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