Business, 24.08.2021 21:30 10035391

Harold Reese must choose between two bonds: Bond X pays $80 annual interest and has a market value of $855. It has 12 years to maturity. Bond Z pays $70 annual interest and has a market value of $880. It has four years to maturity. Assume the par value of the bonds is $1,000. Compute the current yield on both bonds. (Do not round intermediate calculations. Input your answers as a percent rounded to 2 decimal places.)

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