Question: Compute the current yield on a bond with a yield to maturity of 7.1%, a par value of $1000, a coupon rate of 2.8% paid

Compute the current yield on a bond with a yield to maturity of 7.1%, a par value of $1000, a coupon rate of 2.8% paid semi-annually, a remaining life of 24 years? (Round to 100 th of a percent and enter as a percentage, e.g. 12.34% as 12.34 and state as an annul rate.)

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