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Problem 1 0 - 1 9 ( Algo ) Yield to maturity - calculator or Excel required [ LO 1 0 - 3 ] Stilley

Problem 10-19(Algo) Yield to maturity-calculator or Excel required [LO10-3]
Stilley Resources bonds have 20 years left to maturity. Interest is paid annually, and the bonds have a $1,000 par value and a coupon rate of 18.5 percent.
If the price of the bond is $1,210, what is the yield to maturity?
Note: Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.

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