Preston Corporation has a bond outstanding with a $70 annual interestwith a semiannual coupon payment, a market price of $1,068, and a maturity date in 7 years. Assume the par value of the bonds is $1,000.

Find the following:(Use a Financial calculator to arrive at the answers. Round the final answers to 2 decimal places.)

1. Find the yield an investor would realize if coupon payments were reinvested at9 percent.