(Related to Checkpoint 9.2) (Yield to maturity) The market price is $1,050 for a 16-year bond ($1,000 par value) that pays 9 percent annual interest, but makes interest payments on a semiannual basis (4.5 percent semiannually). What is the bond's yield to maturity? The bond's yield to maturity is %. (Round to two decimal places.)