$($Yield to maturity$)$ A bond's market price is $$725.$ It has a $$1,000$ par value, will mature in $6$ years, and has a coupon

interest rate of $8$ percent annual interest, but makes its interest payments semiannually. What is the bond's yield

to maturity? What happens to the bond's yield to maturity if the bond matures in $12$ years? What if it matures in $3$

years?

a$.$ The bond's yield to maturity if it matures in $6$ years is

$\%.($Round to two decimal places.$)$