The current market price of Smith Corporation's 8 percent coupon, 8 year bonds is $1,125.61.

An 8% coupon rate ispaid semi-annually, and the par value is equal to $1,000. What is the YTM (stated on a nominal, annual, basis) if the bonds mature 8 years from today?

NOTE:Enter your answer as you would in a financial calculator, as the nominal percentage value, but without the percent sign ( without "%") andnotas a decimal.That is, for an8 percent yield to maturityyou would enter:8 or 8.0,but not8%and not as0.08.