You paid $852 for a corporate bond that has a 10.85% coupon rate. What is the current

Question:

You paid $852 for a corporate bond that has a 10.85% coupon rate. What is the current yield?

Coupon
A coupon or coupon payment is the annual interest rate paid on a bond, expressed as a percentage of the face value and paid from issue date until maturity. Coupons are usually referred to in terms of the coupon rate (the sum of coupons paid in a...