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You are considering a bond with a 10.3% coupon rate, 23 years until maturity, and a $1,000 par value. If the bond's quoted price is
You are considering a bond with a 10.3% coupon rate, 23 years until maturity, and a $1,000 par value. If the bond's quoted price is 106.54, and you can reinvest the coupon payments at a 7.8% rate of return, what will your realized compound yield be if you hold the bond until maturity? (Enter your answer as a percent, e.g., if the answer is 5.3% enter 5.3, not 0.053)
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