Bonds issued by the Tyler Food chain have a par value of $1,000, are selling for $1,330, and have 20 years remaining to maturity. Annual interest payment is 21.5 percent ($215), 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 %