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One year ago, Gangnam Inc. issued a 12 -year, 3% semiannual coupon bond at its par value of $1,000. The bond can be called in

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One year ago, Gangnam Inc. issued a 12 -year, 3% semiannual coupon bond at its par value of $1,000. The bond can be called in 8 years at a price of $1,100 and it now sells for $638.72. The bond has a yield to maturity of 8%. Part 1 Attempt 1/5 for 10 pts. What is the current yield

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