A bond with a face value of $1,000 pays 4% annual coupon rate. If the bond is priced at $980, what is its current yield? a) 3.92% b) 4.00% c) 4.08% d) 4.16%

Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter4: Bond Valuation
Section: Chapter Questions
Problem 4MC
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A bond with a face value of $1,000 pays 4%
annual coupon rate. If the bond is priced at
$980, what is its current yield?
a) 3.92%
b) 4.00%
c) 4.08%
d) 4.16%
Transcribed Image Text:A bond with a face value of $1,000 pays 4% annual coupon rate. If the bond is priced at $980, what is its current yield? a) 3.92% b) 4.00% c) 4.08% d) 4.16%
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