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Calculate the yield to maturity (i.e., YTM) for the following bond. The bond matures in 20 years, has a coupon rate of 8.5% with semi-annual

Calculate the yield to maturity (i.e., YTM) for the following bond. The bond matures in 20

years, has a coupon rate of 8.5% with semi-annual payments. The par value of the bond is

$1000, while the current market value equals $1114.65. (Round to 100th of a percent and

enter your answer as a percentage, e.g., 12.34 for 12.34%)

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