Question: Problem 10-14 (calculator version): Yield to Maturity (5 points) Bonds issued by the Coleman Manufacturing Company have a par value of $1,000, which is also

Problem 10-14 (calculator version): Yield to Maturity (5 points) Bonds issued by the Coleman Manufacturing Company have a par value of $1,000, which is also the amount of principal to be paid at maturity. The bonds are currently selling for $700. They have 10 years to maturity. The annual interest rate (coupon rate) is 11 percent; the annual interest or coupon payment ($110) is paid semiannually, Compute the yield to maturity. (Do not round Intermediate calculation. Use a Financial calculator to arrive at the answers. Round the final answer to 2 decimal places.) Yield to maturity %

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