Question: Kris P. Bacon is considering purchasing a Bitz bond with semiannual payments having an annual coupon rate fixed at 10 percent. Its face value of

Kris P. Bacon is considering purchasing a Bitz bond with semiannual payments having an annual coupon rate fixed at 10 percent. Its face value of $1,000 is paryable in 6 years and the bond trades at $1,210.29. What is the expected annual yleld on the Bitz bond? (Use o Financial calculator to arrive at the answers, Do not round intermediate calculations. Round the final answer to 2 decimal places.) Annual yield on the Bitz bond \%

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