BCC has issued 9 percent debentures that will mature on July 15, Year 30. Assume that interest is paid and compounded annually. An investor purchased a $1,000 denomination bond for $1,030.00 on July 15, Year 1. Determine the yield to call if the bonds are called on July 15, Year 8, at $1,023.5. Round your answer to two decimal places.

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