Question: A bond with a par value of $1,000 and a semiannual coupon has a yield to maturity of 6.60% and a current price of $1,035.

A bond with a par value of $1,000 and a semiannual coupon has a yield to maturity of 6.60% and a current price of $1,035. If the bond has 8 years to maturity, what is its current yield?

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