What is the the truth value, if they have one, of propositions whose subject do

What is the the truth value, if they have one, of propositions whose subject do not exist? "The current king of France is bald" is the famous example. Is that true or false, or neither? I have a hard time understanding how the current king of France can be neither bald nor not bald, even though I have no trouble understanding that there is no current king of France.

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