You are considering the purchase of a 10.5% Proctr & Gamble bond with a face value of $1,000, annual coupon payments, and 7 years to maturity. If the current market price of the bond is $1,130.16, what is the bond's yield-to-maturity (YTM).

(Note: In TVM problems in which you have both cash inflows and outflows, you need to enter cash outflows in your calculator as negative values. For example, the bond investor has a cash outflow at time zero equal to the price of the bond and the subsequently occurring coupon receipts and return of face value are inflows.)

(State your answer as a percent rounded to the nearest one-hundredth of one percent.)