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Problem 7 - 2 7 Yield to Maturity ( LG 7 - 6 ) A 7 . 3 5 percent coupon bond with 2 0

Problem 7-27 Yield to Maturity (LG7-6)
A 7.35 percent coupon bond with 20 years left to maturity is offered for sale at $1,025.00. What yield to maturity is the bond offering? (Assume interest payments are semiannual.)(Round your answer to 2 decimal places.)
Answer is complete but not entirely correct.
Yield to maturity
%
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