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Man-zeer Inc., (a Kramer/Costanza joint venture) bonds are currently trading at $996.45. The bonds have a face value of S1,000, a coupon rate of 7%

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Man-zeer Inc., (a Kramer/Costanza joint venture) bonds are currently trading at $996.45. The bonds have a face value of S1,000, a coupon rate of 7% with coupons paid semiannually, and they mature in 10 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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