What is the current yield on a zero coupon bond with a remaining life of 12 years, a yield to maturity of 11.8%, and a par value of $1000 ? (Round to 100 t) of a percent and enter as a percentage, e.g. 12.34\% as 12.34 and state as an annual rate.) Answer: Mickey and Minnie just bought a zero coupon bond for $591.65, but they cannot recall when it matures. The yield to maturity equals 8.8%. Can you help Mickey and Minnie? The bond's face value is $1000. (Assume annual discounting) (Enter your answer in years and round to 2 decimal places.)