Question: A bond with a $1,000 par value has 16 years to maturity and currently sells for $925. The bond has a 8% coupon rate and

A bond with a $1,000 par value has 16 years to maturity and currently sells for $925. The bond has a 8% coupon rate and pays coupons twice per year or semiannually. What is the bond's yield to maturity? Enter your answer as a percent with 2 decimal places (e. g., 12.35)

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