Bird Corporations 12 percent coupon rate, semi-annual payment, $1,000 par value bonds that mature in 20 years are callable at a price of $1,100 five years from now, The bonds sell at a price of $1,300 , and the yield curve is flat. Assuming that interest rates in the economy are expected to remain at their current level, what is the best estimate of Birds nominal interest rate on the new bonds?