Assume that you purchased an 8%, 25-year, $1,000 par, semiannual payment bond priced at $1,014.50 when it has 15 years remaining until maturity. Compute:

1. Its promised yield to maturity? Do not round intermediate calculations. Round your answer to two decimal places.

   % annually

2. Its yield to call if the bond is callable in five years with an 11% premium? Do not round intermediate calculations. Round your answer to two decimal places.

   % annually