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3 Question 8 (0.2 points) A bond currently trades at $937 on the secondary market. The bond has 16 years until maturity and pays an

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3 Question 8 (0.2 points) A bond currently trades at $937 on the secondary market. The bond has 16 years until maturity and pays an annual coupon at 7% of face value. The face value of the bond is $1,000. What is the coupon (or current) yield for this bond? (Enter your answers as a decimal rounded to 4 decimal places, not a percentage. For example, enter 0.0843 instead of 8.43%) Your Answer: 8

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