Morse, Inc. has 8 percent coupon bonds on the market with 10 years to maturity. The bonds make annual coupon payments and currently sell for $1,215. Requirement 1: What is the current yield on Morse's bonds? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).) Current yield % Requirement 2: What is the yield-to-maturity on Morse's bonds? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).) Yield to maturity Requirement 3: How do you explain the difference between the current yield and the yield to maturity found in Requirements 1 and 2? (ie, why is the current yield higher or lower than the yield to maturity for these bonds?)