3. Popie Drink Corp issued 12 year bonds 2 years ago at a coupon rate of 8.4 percent. The bonds make semi-annual payments. If these bonds currently sell for 105 percent of par value, what is the YTM? Assume the par value of a bond is $1,000. Do not round intermediate calculations and round your final answer to 2 decimal places. Treasury bills are currently paying 7 percent and the inflation rate is 3.8 percent. What is the approximate real rate of interest? What is the exact real rate? Round your answer to 2 decimal places. 4