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Bavarian Pretzel Haus is going to finance a new pretzel factory using a debt issue. The company needs to raise $10.00 million today. An investment

Bavarian Pretzel Haus is going to finance a new pretzel factory using a debt issue. The company needs to raise $10.00 million today. An investment bank has suggested issuing 10-year bonds, with a 6.00% APR semi-annual coupon, and a face value of $12.00 million. What yield to maturity is the investment bank placing on Bavarian Pretzel Haus bonds if they offer with these terms (Express as an EAR)?

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