Messenger Inc Bonds Have A 4 Coupon Rate With Semiannual Coupon Payments And A 1

Messenger, Inc. bonds have a​ 4% coupon rate with semiannual coupon payments and a​ $1,000 par value. The bonds have 11 years until​ maturity, and sell for​ $925. What is the current yield for​ Messenger’s bonds?

 

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