You purchased a 20-year, 10% (twice yearly payments) bond at par. You will sell the bond in two years. Likewise, you expect that 18-year bonds with similar characteristics would yield 12% at the end of two years. Calculate the expected realized yield on this bond by assuming that each coupon payment is reinvested at the following rates: the first coupon at 8% for 18 months; the second coupon at 10% for 12 months; the third coupon at 12% for 6 months; and the fourth coupon not reinvested.