Consider a corporate bond with a face value of $1,000, 2 years to maturity and a coupon rate of 6%. Coupons are paid semi-annually. The next coupon payment is to be made exactly 6 months from today. What is this bond's YTM assuming the following spot rate curve.

• 6-month spot rate: 4%.
• 12-month: 5%.
• 18-month: 5.5%.
• 24-month: 9%.

Assume semi-annual compounding. Round your answer to 4 decimal places. For example if your answer is 3.205%, then please write down 0.0321.