Find Current Yield. A mutual fund just purchased $10 million in Doolittle bonds at a premium price of $1,048.50 per bond. The bonds have an annual coupon rate of 7 percent but make semiannual payments. What is the expected current yield on these bonds? (Hint: current yield = annual coupon payment / bond price).

Group of answer choices

4.94%

7.51%

6.05%

6.68%

4.60%