Eagle Industries' bonds have a $10-$year matunty and a $7\mathrm{.}85\%$ coupon paid semianually. They sell at their $$1\mathrm{.}000$ par value. and are not callable. What is the effective annual rate $($EFFQd$)$ for these bonds?

Recall that EFF$\%=[1+($ Nominal Rate $\frac{?}{n}){]}^n-1$

Your answer should be between $7\mathrm{.}20$ and $9\mathrm{.}12,$ rounded to $2$ decimal places, with no special characters.