Problem 7-7 Bond Yields [LO2] Heginbotham Corp. issued 10-year bonds two years ago at a coupon rate of 8.7 percent. The bonds make semiannual payments. If these bonds currently sell for 108 percent of par value, what is the YTM? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)