Sheridan, Inc., has four-year bonds outstanding that pay a coupon rate of 7.60 percent and make coupon payments semiannually. If these bonds are currently selling at $918.89.

What is the yield to maturity that an investor can expect to earn on these bonds? (Round answer to 1 decimal place, e.g. 15.2%.)

What is the effective annual yield? (Round answer to 1 decimal place, e.g. 15.2%.)