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Bryson DeChambaeu bought $1000 par value, 20-year bonds issued by Pinnacie Inc. 7 years ago for $1,024.58. The bonds make semiannual coupon payments at a

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Bryson DeChambaeu bought $1000 par value, 20-year bonds issued by Pinnacie Inc. 7 years ago for $1,024.58. The bonds make semiannual coupon payments at a rate of 5.5 percent. If the current price of the bond is $994.42, what is the yield that Bryson would earn by selling the bonds today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g. 32.16.) Numeric Response

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