Question: A coupon bond that pays interest of $54 annually has a par value of $1,000, matures in 5 years, and is selling today at $73.75

A coupon bond that pays interest of $54 annually has a par value of $1,000, matures in 5 years, and is selling today at $73.75 discount from par value. What is the current yield on this bond? Show step-by-step work

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Question: A coupon bond that pays interest of $54 annually has a par value of $1,000, matures in 5 years, and is selling today at $73.75

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