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One year ago, a bond had a coupon rate of 12.20%, par value of $1000, YTM of 7.66%, and semi-annual coupons. Today, the bonds price
One year ago, a bond had a coupon rate of 12.20%, par value of $1000, YTM of 7.66%, and semi-annual coupons. Today, the bonds price is $1,231 and the bond has 9 years until maturity. What was the current yield of the bond one year ago? The next coupon is due in 6 months. Answer as a rate in decimal form, rounded to 4 decimal places (for example, .1234 or .0987).
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