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Ace Products has a bond issue outstanding with 1 5 years remaining to maturity, a coupon rate of 7 . 2 % with semiannual payments

Ace Products has a bond issue outstanding with 15 years remaining to maturity, a coupon rate of 7.2% with semiannual payments of $36, and a par value of $1,000. The price of each bond in the issue is $1,170.00. The bond issue is callable in 5 years at a call price of $1,072. What is the bond's nominal annual yield to call (YTC)? Do not round intermediate calculations. Round your answer to two decimal places.

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