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Problem 8 - 3 Bond Yields Ashburn Corporation issued 2 0 - year bonds 2 years ago at a coupon rate of 9 percent. The

Problem 8-3 Bond Yields
Ashburn Corporation issued 20-year bonds 2 years ago at a coupon rate of 9 percent. The bonds make semiannual payments. If these bonds currently sell for 105 percent of par value, what is the YTM?(Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g.,32.16.)

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