Please round answer to 2 decimal places

Ramblin Wreck is a firm specializing in engineering components. The firm is publicly traded and is considering the following project: The project will last 5 00 years with an annual cash flow of $40 00 million. The pro ect will require an tial investment of 40,0 milion The firm must determine the cost of capital to evaluate the project. (The project is within the firm's normal activities) Ramblin Wreck, Inc. Financial Data: STOCK DATA: Current Price Per Share$28.00 # of Shares Book Value BOND DATA: Current Price Per Bond # of bonds Annual Coupon Rate Face Value Per Bond Maturity $929.00 20,000.00 8.00% $1,000 10 years 2.00 million $50 million The risk free rate in the economy is currently 2.00%, while investors have a market risk premium of 7.00%. Ramblin Wreck, Inc. has a beta of 1.46. The tax rate is 36.00%. What is the yield to maturity on Ramblin Wreck, Inc. bonds