Homework Answers
Answer is 9.15%
Face Value = $1,000
Current Price = $820
Annual Coupon Rate = 7.50%
Annual Coupon = 7.50% * $1,000
Annual Coupon = $75
Current Yield = Annual Coupon / Current Price
Current Yield = $75 / $820
Current Yield = 0.0915 or 9.15%
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