National Distributors has $1,000 face value bonds outstanding with a market price of $1,197.93. The bonds pay interest semiannually, mature in 20 years, and have a yield to maturity of 8 percent. What is the current yield? 1) 7.61 percent 2) 6.39 percent 3) 8.35 percent 4) 7.48 percent 5) 6.95 percent