Aramex, Inc is currently offering a bond with a par value of $1,000, which is priced at $1,488 in the market. The bond offers a fixed annual coupon rate of 14.05 percent, which is paid semiannually. It has a remaining time to maturity of 24 years. What is the current yield to maturity on the bond if it is acquired and retained until it reaches its maturity date?

Please express the solution to two decimal places in percentage format.

It is recommended to utilize Microsoft Excel or a financial calculator for this purpose.