You are analyzing the after-tax cost of debt for a firm. You know that the firms 12-year maturity, 12.50 percent semiannual coupon bonds are selling at a price of $1,212.11. These bonds are the only debt outstanding for the firm.

(a1)

What is the current YTM of the bonds? (Round final answer to 2 decimal places, e.g. 15.25%.)

YTM

enter the current YTM of the bonds in percentages rounded to 2 decimal places

%