Calculating Current Yield of a Bond

In the context of fixed income securities, yield measures are essential in assessing the return on investments in bonds. One of the fundamental yield measures is the current yield, which helps investors understand the income generated from a bond relative to its market price.

Consider a bond with a coupon rate of 6% and a face value of $1,000, currently priced at $1,050 in the market. What is the current yield of this bond?