Two years ago Co. sold 16yr bonds with a coupon interest of 9% with semiannual payments. FV=$1,000.

Required:

The price is now 114 percent of par value, What's the YTM? Hint: the price, or present value, is the percentage of par value times $1,000. Since you set it up semiannual, the resulting rate is semiannual. Multiply it by 2 at the end to get your final answer. (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

Yield to maturity

%

Thank you!!