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Determine the after - tax yield ( i . e . , IRR on the ATCF ) obtained by an individual who purchases a $

Determine the after-tax yield(i.e., IRR on the ATCF) obtained by an individual who purchases a $13 comma 000,11-year, 10% nominal interest rate bond. The following information is given:
bullet Interest is paid semi-annually, and the bond was bought after the fifth payment had just been received by the previous owner.
bullet The purchase price for the bond was $8 comma 000.
bullet All revenues(including capital gains) are taxed at an income rate of 22%.
bullet The bond is held to maturity.

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