A 30-year bond with 8% Coupon rate paid semiannually is currently priced such that its YTM is 8.5%. Suppose the bond has a callable feature and the call can be exercised at the end of 5 years from now. Upon exercising the Call feature, the issuer pays you a call price of 1,100$ and retires the bond (i.e. no more money owed to you). What is your potential return (also called Yield to Call) if the the call is exercised?

Hint: You first need to find the price of the bond today with the given information. This will be the PV for the second step. The Call Price will be the FV for the second step. You need to adjust N (number of periods) since the call will be exercised in 10 periods time. The PMT doesn't change. CPT I/Y and remember that the calculator will spit out a semiannual rate. I need an annual rate.

Report a % with 2 decimals. Don't report a % symbol.