The 8 percent, $1,000 face value bonds of Glenmore Foods are currently selling at $1,027. These bonds have 16 years left until maturity. What is the current yield?
A) 7.71 percent
B) 7.79 percent
C) 8.00 percent
D) 8.23 percent
E) 8.28 percent
Correct Answer:
Verified
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