Terminal not beeping on bell character

I'm running a nearly vanilla installation of OS X Yosemite 10.10.1 with the usual Homebrew, MacPorts, and Fink. I have barely anything installed with these utilities. For some reason, my Terminal.app is not producing an audible bell. I have since enabled the visual bell, and at first it didn't produce a result either until I disabled the "Only when sound is muted" option. I do not have my system's default audio device muted; it is in fact at 100% volume and fully functional. It seems like Terminal.app is under the impression that my system audio is muted for some reason. How can I get my Terminal.app to beep like it did in past versions of OS X?