The market price is $$$$700$ for a $16-$year bond $($$$1,000$ par$$ value$)$ that pays $9$ percent annual$$ interest, but makes interest payments on a semiannual basis $(4\mathrm{.}5$ percent$$ semiannually$).$ What is the$$ bond's yield to$$ maturity?

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Part $1$

The$$ bond's yield to maturity is enter your response here$\%.$