Question: Consider a $ 1 , 0 0 0 par value bond with a 7 percent annual coupon. The bond pays interest annually. There are nine

Consider a $1,000 par value bond with a 7 percent annual coupon.
The bond pays interest annually.
There are nine years remaining until maturity.
What is the current yield on the bond assuming that the required return on th bond is 10 percent?
(please show in excel how to solve in steps)

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