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I need help with this question. I do not know which formula to use for this eqution. Mike paid $1,051 for a corporate bond that has a 18.68 percent

Daniel Kevins

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I need help with this question. I do not know which formula to use for this eqution.

Mike paid Mike paid $1,051 for a corporate bond that has a 18.68 percent coupon rate. What is the bond’s current yield? Please Assist.

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