A bond with a face value of $1000 and annual coupons at a rate of 8% effective has a price of $1089.81. Another bond with a face value of $1000 and annual coupons at a rate of 5.6% effective has a price of $957.58. Both are redeemable at par in the same number of years and have the same yield rate. Find the yield rate and give your answer as an effective rate.