Question $6$

$5$ points $($Extra Credit$)$

Note: You are required to use a financial calculator to solve this problem, and to type the entries for the relevant TVM $($Time Value of Money$)$ entries.

Soprano's Spaghetti Factory issued $25-$year bonds two years ago at a coupon rate of $7\mathrm{.}5$ percent. If these bonds currently sell for $108$ percent of par value, what is the YTM$?$ The bond pays semi$-$annual

coupons.