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A 6% semi-annual coupon bond has a face amount of 1,000 . The bond matures in 20 years. The bond is callable on any coupon date at the end of 10 years, or on any coupon date after its 10 th year, with a 5% call premium. This means that if the bond is called on any of the callable dates before maturity, the bond issuer has to pay the coupon, redemption amount, and 5% of the redemption amount to the bondholder. If an investor purchases this bond on its issue date at a price of 1,060 , and holds the bond until it matures or is called, determine the minimum yield the investor could earn. Express the yield rate as a nominal rate convertible semi-annually