Goodwynn & Wolf Incorporated (G&W) issued a bond 9 years ago. The bond had a 16-year maturity, a 11% coupon paid annually, a 10% call premium and was issued at par, $1,000. Today, G&W called the bonds. If the original investors had expected G&W to call the bonds in 9 years, what was the yield to call at the time the bonds were issued? Round your answer to two decimal places.

Yield to call and Realized Rates of Return Goodwynn & Wolf Incorporated (GW) issued a bond 9 years ago. The bond had a 16-year maturity, an 11% coupon paid annually, a 10% call premium and was Issued otpor, 51,000. Today, Gaw called the bonds. If the original investors had expected Gaw to call the bonds in 9 years, what was the yield to call at the time the bonds were issued? Round your answer to two decimal places