A firm raises capital by selling $$$$10,000$ worth of debt with flotation costs equal to $2\%$ of its par value. If the debt matures in $10$ years and has an annual coupon interest rate of $11\%,$ what is the$$ bond's YTM$?$

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Part $1$

The$$ bond's YTM is enter your response here$\%.($Round to two decimal$$ places.$)$