Assume that you pay $687.47 for a long-term bond that carries a coupon of 92%. Over the course of the next 12 months, interest fates drop sharply. As a result, you sell the bond at a price of $743.28. a. Find the current yield that existed on this bond at the beginning of the year. What was it by the end of the one-year holding period? b. Determine the holding period return on this investment. (Hint See Chapter 4 for the HPR formula.) a. The current yield that existed on this bond at the beginning of the yoar is \%. (Round to two decimal places.)