An Apple Incorporated bond is contracted to pay a semi-annual coupon at the rate of 8.5%. This $1,000 principal bond has a YTM of 9.24% and currently sells for $942.10. What is the annual current (coupon) yield associated with this bond? (a) 4.51% (b) 8.50% (c) 9.02% (d) 9.81% (e) 4.91%
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