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Greed My Motto Ltd. (NYSE: GMM) has 100 bonds outstanding (face value = $1,000 each). The market interest rate is currently 10 percent. The coupon

Greed My Motto Ltd. (NYSE: GMM) has 100 bonds outstanding (face value = $1,000 each). The market interest rate is currently 10 percent. The coupon is paid semiannually. The bonds mature in 5 years, and their current market value is $768 per bond. What is the annual nominal yield of the bond? (Hint: Compute the annual coupon amount first.)

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