Suppose a$$ ten$-$year,

$ $1$ comma $000$$$1,000$

bond with an

$8\mathrm{.}5\%8\mathrm{.}5\%$

coupon rate and semiannual coupons is trading for

$ $1$ comma $034\mathrm{.}04$$$1,034\mathrm{.}04.$

a$.$ What is the$$ bond's yield to maturity$($expressed as an APR with semiannual$$ compounding$)?$

b$.$ If the$$ bond's yield to maturity changes to

$9\mathrm{.}3\%9\mathrm{.}3\%$

$$APR$,$ what will be the$$ bond's price?

Question content area bottom

Part $1$

a$.$ What is the$$ bond's yield to maturity$($expressed as an APR with semiannual$$ compounding$)?$

The$$ bond's yield to maturity is

$$

enter your response here$\%.$

$($Round to two decimal$$ places.$)$