A Japanese company has a bond outstanding that sells for 86 percent of its 100,000 par value. The bond has a coupon rate of 4.5 percent paid annually and matures in 16 years.

What is the yield to maturity of this bond? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

A Japanese company has a bond outstanding that sells for 86 percent of its 100,000 par value. The bond has a coupon rate of 4.5 percent paid annually and matures in 16 years. What is the yield to maturity of this bond? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Yield to maturity