Dan is considering the purchase of super technology, Inc. bonds that were issued 10 years ago. When the bonds were originally sold they had a 20-year maturity and a 10.51 percent coupon interest rate, paid annually. The bond is currently selling for $1,297. Par value of the bond is $1,000. What is the yield to maturity on the bonds if youpurchased the bond today?

Round the answer to two decimal places