Question: Problem 10-20 Yield to maturity-calculator or Excel required [LO10-3] Evans Emergency Response bonds have 4 years to maturity. Interest is paid semiannually. The bonds have

Problem 10-20 Yield to maturity-calculator or Excel required [LO10-3] Evans Emergency Response bonds have 4 years to maturity. Interest is paid semiannually. The bonds have a $1,500 par value and a coupon rate of 8 percent. If the price of the bond is $1.084.58, what is the annual yield to maturity? (Do not round intermediate calculations. Input your answer os a percent rounded to 2 decimal ploces.)

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