Bavarian Pretzel Haus is going to finance a new pretzel factory using a debt issue. The company needs to raise $8.00 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)?

Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign required. Will accept decimal format rounded to 4 decimal places (ex: 0.0924)