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Determine the current yield on a corporate bond investment

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Reference no: EM132491581

Determine the current yield on a corporate bond investment that has a face value of $1200, pays 7 percent, and has a current price of $1240.
Convert your answer to a percent, then round to 1 decimal place (i.e. 1.3 2.4). Do not include the "%" sign in your response.

Reference no: EM132491581

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