Problem $6-21$ Bond Yields $[$LO $2]$

Williams Software has $8\mathrm{.}6$ percent coupon bonds on the market with $25$ years to maturity. The bonds make semiannual payments and

currently sell for $110\mathrm{.}75$ percent of par.

a$.$ What is the current yield on the bonds?

Note: Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$

b$.$ What is the YTM$?$

Note: Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$

c$.$ What is the effective annual yield?

Note: Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$