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Calculate the current yield too 3.Garnet & Gold (G&G) is the world's largest publications firms. Four years ago G&G issued a $1,000 par value bond.

image text in transcribedCalculate the current yield too

3.Garnet & Gold (G&G) is the world's largest publications firms. Four years ago G&G issued a $1,000 par value bond. The bond had the following characteristics: 30-year maturity Interest is paid annually (coupon rate of 6.5%) Callable (original call protection period was 10 years) If the bond is called, the firm will pay a $75 premium (i.e. callable at $1,075). The current price of the bond is $940.87. The yield to maturity is 7%. Calculate the duration of this bond

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