Steamliner, Inc. has a project that it expects will produce a cash flow of $$2\mathrm{.}8$ million in $13$ years. To finance the project, the company needs to borrow $$2\mathrm{.}1$ million today. The project will also produce intermediate cash flows of $$190,000$ per year that the company can use to service semi$-$annual coupon payments. The firm's underwriter suggests that the market would be receptive to a $13-$year bond with a face value of $$2\mathrm{.}7$ million with a coupon payment of $$95,000$ every six months. Alternatively, Steamliner has the option to raise the $$2\mathrm{.}1$ million by issuing $13-$year zero coupon bonds with a face value of $$3\mathrm{.}1$ million. What is the annualized yield to maturity $($YTM$)$ on the preferred option? Recall that the compounding interval is $6$ months and the YTM$,$ like all interest rates, is reported on an annualized basis. $($Allow two decimals in the percentage but do not enter the $\%$ sign.$)$