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Thomas Taylor bought 10-year, 11.7 percent coupon bonds issued by the U.S. Treasury three years ago at $900.34. If he sells these bonds, for which
Thomas Taylor bought 10-year, 11.7 percent coupon bonds issued by the U.S. Treasury three years ago at $900.34. If he sells these bonds, for which he paid the face value of $1,000, at the current price of $821.05, what is his realized yield on the bonds? Assume similar coupon-paying bonds make annual coupon payments. (Round intermediate calculations to 5 decimal places, e.g. 1.25145 and final answer to 2 decimal places, e.g. 15.25%.)
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