What's the current yield of a 5.75 percent coupon corporate bond quoted at a price of 103.05?

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The current yield of a bond is calculated by dividing the annual coupon payment by the bond's price. For a 5.75 percent coupon bond, the annual coupon payment is 5.75% of the bond's face value, typically $100, which equals $5.75. If the bond is quoted at a price of 103.05, the current yield is $5.75 / $103.05 = 0.0558 or 5.58 percent.

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