The yield to maturity of a corporate bond is often not the same as the coupon rate of a bond, this changes over time
The yield to maturity is the discount rate that makes the present value of the promised future cash flows equal in sum to the current market price of the bond. This case is the same as the Internal Rate of Return (IRR).
After determining the price of the bond, calculating the current yield is straightforward. The current yield on your security is equal to the annual interest divided by the price of the bond.
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