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Bonds issued by the Tyler Food chain have a par value of $1,000, are selling for $1,760, and have 20 years remaining to maturity. Annual

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Bonds issued by the Tyler Food chain have a par value of $1,000, are selling for $1,760, and have 20 years remaining to maturity. Annual interest payment is 13.5 percent ($135), paid semiannually. Compute the approximate yield to maturity. (Use a Financial calculator to arrive at the answers. Do not round intermediate calculation. Round the final answer to 2 decimal places.) Approximate yield to maturity %

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