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Sylvia decided to use the savings from her bank account to purchase a 5-year bond.

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Sylvia decided to use the savings from her bank account to purchase a 5-year bond. The face value of the bond is $10,000, the market price is $9,230 and the coupon rate is 7%.

What is the current yield on the bond?Round to 2 decimal places.

A.

7.00%

B.

7.25%

C.

7.58%

D.

7.75%

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