Jones and Company have recently issued a bond with a face value of ( $ 1,000,30 ) years to maturity and a semi-annually paid coupon rate of ( 5 % ). If the Jones & Co. bond is trading for ( $ 1,040 ), what is the yield on the bond? Round your answer to the nearest basis point.

Jones and Company have recently issued a bond with a face value of $1,000,30 years to maturity and a semi-annually paid coupon rate of 5%. If the Jones &CO. bond is tradting for $1.040, what is the yield on the bond? Round your answer to the nearest basis point