A company$$s non$-$callable bonds currently sell for $$1,210.$ They have a $20-$year maturity, a coupon rate

of $7\%$ with semiannual payments, and a par value of $$1,000.$ What is their yield to maturity $($round youranswer to two decimal places$)?($i$)$Describe the assumptions related to the problem,$($ii$)$Apply the appropriate mathematical model, $($iii$)$ Calculation