1) Semiannual compounding and/or that all coupon bonds are semiannual-pay bonds;

2) Bonds are $1000 par.

MNO Co. issues zero coupon bonds on the market at a price of $346 per bond. Each bond has a face value of $1,000 payable at maturity in 20 years. The bonds are callable in 7 years at $641. What is the yield to call for these bonds (in percent)? Answer to two decimals