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A 2 0 - year, $ 1 , 0 0 0 par value bond has a 7 . 7 5 % coupon rate with interest

A 20-year, $1,000 par value bond has a 7.75% coupon rate with interest paid semiannually. The bond currently sells for $900.00. Now assume that these bonds are callable in 5 years at a call price of $1,075. What is the Yield to Call on these bonds expressed as a percentage calculated to two decimal places if you purchase them at the current market price? Enter your answer rounded to two decimal places. Do not enter % in the answer box. For example, if your answer is 0.12345 or 12.345% then enter as 12.35 in the answer box.

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