A Treasury bond with $8$ years to maturity is currently quoted at $108$:$16.$ The bond has a coupon rate of $11\mathrm{.}5$ percent. What is the yield value of a $32nd$ for this bond? $($Do not round intermediate calculations. Round your answer to $3$ decimal places.$)$

Answer is complete but not entirely correct.

$\backslash$table$[[$Yield value $($in basis points$),0\mathrm{.}031$