An investor is considering purchasing a bond with a

4.98

percent coupon interest rate, a par value of

$1,000,

and a market price of

$963.17.

The bond will mature in nine years. Based on this information, answer the following questions:

a. What is the bond's current yield?

b. What is the bond's approximate yield to maturity?

c. What is the bond's yield to maturity using a financial calculator?

Note: Assume coupon payments are paid annually

a. The bond's current yield is

nothing%.

(Round to two decimal places.)