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You are considering the purchase of a Coupon Bond with a Face Value of $1,000, which matures in twenty-four years, and pays 6.55% (annual) coupons.

You are considering the purchase of a Coupon Bond with a Face Value of $1,000, which matures in twenty-four years, and pays 6.55% (annual) coupons. The price of the bond is listed in the financial press as 113.809. Calculate the Yield-to-Maturity (YTM) on the security. (The answer is a percent, round your answer to two decimal places, e.g. 4.75)

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