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

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    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%

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