What is the current yield for a bond that has a coupon rate of $8\mathrm{.}7\%$ paid annually, a par value of $$1000,$ and $21$ years to maturity? Investors require a return of $12\mathrm{.}6\%$ from the bond. $($Round to $100$th of a percent and enter as a percentage, e$.$g$.12\mathrm{.}34\%$ as $12\mathrm{.}34)$

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The current yield for a bond is calculated using the following formula textCurrent Yield fracAnnual ... View the full answer