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Your client is considering the purchase of a bond that is currently selling for $1161.83. The client wants to know what annual rate of return

Your client is considering the purchase of a bond that is currently selling for $1161.83. The client wants to know what annual rate of return can they expect to earn on the bond. The bond has 7 years to maturity, pays a coupon rate of 3.8%(payments made semi-annualy), and a face value of $1000. (Round to 100th of a percent and enter your answer as a percentage, e.g., 12.34 for 12.34%)

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