(Answered) You paid 888 for a corporate bond that has a 454 coupon

Finance

You paid $888 for a corporate bond that has a 4.54% coupon rate. What is the current yield?

Hint: if nothing is mentioned, then assume par value = $1,000

Note: Enter your answer rounded off to two decimal points. Do not enter % in the answer box. For example, if your answer is 0.12345 then enter as 12.35 in the answer box.

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