Question: Problem 5-14 (Current Yield with Semiannual Payments) A bond that matures in 11 years sells for $1,050. The bond has a face value of $1,000

Problem 5-14 (Current Yield with Semiannual Payments)

A bond that matures in 11 years sells for $1,050. The bond has a face value of $1,000 and a yield to maturity of 8.2981%. The bond pays coupons semiannually. What is the bond's current yield? Do not round intermediate calculations. Round your answer to two decimal places.

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