The answer is not 9.52

Use the foliowing information to answer this question and the next question The Bozo Company has an 8% coupon bond outstanding. The bond makes semiannual coupon payments and has 12 years remaining to maturity. Its market price is $846.64. It is issung a new 20-year bond to finance a factory to make new Bozos The new bond will make annual coupon payments. What is the yield to maturity of the Bozo Company's existing bonds? 9.52% 10.00% 10.25% 10.51%