Answer is 7.70%:
Current Price = Quoted Price * Par Value
Current Price = 100.39% * $1,000
Current Price = $1,003.90
Current Yield = Annual Coupon / Current Price
0.0767 = Annual Coupon / $1,003.90
Annual Coupon = $77.00
Coupon Rate = Annual Coupon / Par Value
Coupon Rate = $77.00 / $1,000
Coupon Rate = 0.0770 or 7.70%
A bond has a par value of $1,000, a current yield of 767 percent, and semiannual...
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