4D2

Blue Crab, Inc. plans to issue new bonds, but is uncertain how the market would set the yield to maturity. The bonds would be 14-year to maturity, carry a 10.11 percent annual coupon, and have a $1,000 par value. Blue Crab, Inc. has determined that these bonds would sell for $1,393 each. What is the yield to maturity for these bonds?

Round the answers to two decimal places in percentage form. (Write the percentage sign in the "units" box).