PK Software has 8.6 percent coupon bonds on the market with 25 years to maturity. The bonds make semiannual payments and currently sell for 110.75 percent of par.

Requirement 1:

What is the current yield on PK's bonds? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

Current yield

%

Requirement 2:

What is the YTM? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

Yield to maturity

%

Requirement 3:

What is the effective annual yield? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

Effective annual yield

%