(Answered) You paid 983 for a corporate bond that has a 605 coupon

Management Studies

You paid $983 for a corporate bond that has a 6.05% 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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