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Question(s) / Instruction(s):

A bond has a 7 percent coupon rate, a face value of $1,000, semiannual payments, and sells at par. The current yield is _____ percent and the effective annual yield is _____ percent.

a)      7.23; 7.23

b)      6.76; 6.96

c)       7.00; 7.00

d)      7.00; 7.12

e)      6.76; 6.87

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