Finance Question - Current Yield?

Question

How do you answer this question?

Stock Y has $1,000 face value bonds outstanding with a market price of $980. The bonds pay interest annually, mature in 8 years, and have a yield to maturity of 7.339 percent. What is the current yield?

Answer 1

You did not give the actual date of maturity, so if we calculate the question with a date of 7-15-16 (eight years)

Then we can calculate the coupon, which you need to find current yield. a 7% coupon gives a yield to maturity of 7.335%

which is close enough since the Final maturity was not given.

Therefore the current yield is 7% divided by the price of 98 in bond terms to give you a current yield of 7.1429%