Consolidated Amalgamated bonds have a face value of $$1,000$ and are currently

quoted at $106\%$ of par. The bonds pay $$120$ annually. What is the current yield on

these bonds?

$12\mathrm{.}11\%$

$11\mathrm{.}32\%$

$12\mathrm{.}45\%$

$10\mathrm{.}75\%$

$12\mathrm{.}91\%$