One year ago a bond had a coupon rate of 778 percent par, Financial Management

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One year ago a bond had a coupon rate of 778 percent par

One year ago, a bond had a coupon rate of 7.78 percent, par value of $1000, YTM of 7.12 percent, and semi-annual coupons. Today, the bond’s price is 1,045.07 and the bond has 11 years until maturity. What was the current yield of the bond one year ago? The next coupon is due in 6 months. Answer as a rate in decimal format so that 12.34% would be entered as .1234 and 0.98% would be entered as .0098.

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Financial Management: One year ago a bond had a coupon rate of 778 percent par

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