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Man-zeer Inc., (a Kramer/Costanza joint venture) bonds are currently trading at $453.26. The bonds have a face value of $1,000, a coupon rate of 3%

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Man-zeer Inc., (a Kramer/Costanza joint venture) bonds are currently trading at $453.26. The bonds have a face value of $1,000, a coupon rate of 3% with coupons paid semiannually, and they mature in 20 years. What is the yield to maturity of the bonds? The yield to maturity of the bonds is %. (Round to two decimal places.)

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