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Renee, Kayode & Shadine Associates issued a 20-year, 12% coupon bond with a 1000 par value that pays coupons semi-annually. The bond was issued exactly

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Renee, Kayode & Shadine Associates issued a 20-year, 12% coupon bond with a 1000 par value that pays coupons semi-annually. The bond was issued exactly ten years ago. The bond's YTM is 20%. If the current price of this bond were $700. Approximate the bond's YTM (give your answer as a percentage to 4dp i.e xx.xxxx%)

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