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Bavarian Pretzel Haus is going to finance a new pretzel factory using a debt issue. The company needs to raise $ 1 0 . 0

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 8.00% APR semi-annual coupon, and a face value of $14.00 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))

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