Spirit Ltd. is seeking financing for a new initiative it is contemplating. It intends to issue a new series of bonds on January 1, 2011. They are expected to mature in 20 years, on December 31, 2030, and will have a coupon rate of 10%. They will issue with a par value of $1,000, and coupon payments will be made semi-annually, on June 30 and December 31.

What is the bonds yield to maturity (YTM) on June 30, 2018, if the bond sold for $963 on that date?