The yield on the corporate bond would be calculated as follows:
Yield = (Interest Paid / Price Paid) * 100
In this case, the interest paid is 8% of the face value, which is $1000 * 8% = $80.
The price paid for the bond is $900.
Therefore, the yield would be:
Yield = ($80 / $900) * 100 = 8.89%
Rounded to the nearest hundredth, the yield on the corporate bond is approximately 8.89%.