You bought a six-year bond issued by Cullumber Corp. four years ago. At that time, you paid $984.33 for the bond. The bond pays a coupon rate of 8.150 percent, and coupon payments are made semiannually. Currently, the bond is priced at $1,027.56, What yield can you expect to earn on this bond if you sell it today? (Round answer to 2 decimal places, e.g. 15.25%.)

Effective annual yield

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