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A 15-year bond with an 8 percent annual coupon has a face value of $1,000.

A 15-year bond with an 8 percent annual coupon has a face value of $1,000. The bond's yield to maturity is 7 percent. What is the bond's current yield?

a. 3.33%
b. 5.00%
c. 7.33%
d. 7.50%
e. 8.00%

$2.19