Leonard Cooper is looking to invest in a two-year bond from Big Bang Productions Corporation. The company makes semi-annual coupon payments of $56.00 (every 6 months) with a face value of $1,000. If the market price of the bonds is $1,048.00, what yield to maturity will Leonard earn (express as an EAR)?

Percentage Round to: 2 decimal places (Example: 9.24%, % sign required.