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PK Software has 8.7 percent coupon bonds on the market with 22 years to maturity. The bonds make semiannual payments and currently sell for 111

PK Software has 8.7 percent coupon bonds on the market with 22 years to maturity. The bonds make semiannual payments and currently sell for 111 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 %

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