Question: What is the current yield for a bond that has a coupon rate of 8.9% paid annually, a par value of $1000, and 25 years

What is the current yield for a bond that has a coupon rate of 8.9% paid annually, a par value of $1000, and 25 years to maturity? Investors require a return of 12.5% from the bond. (Round to 100th of a percent and enter as a percentage, e.g. 12.34% as 12.34)

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