Mitch bought a newly issued $1,000 par-value 13% eight-year bond with semi- annual coupons. The bond was priced to yield a nominal 9%, convertible semiannually, so Mitch paid a premium. Mitch immediately took a constant amount D from each coupon and deposited it in a savings account with a 6% annual effective interest rate. This caused his actual yield to be less than 9%. The amount D was as small as possible so that the balance in the account immediately after the final deposit was at least equal to the premium. Find D and Mitch's annual yield for the eight-year period