Other Homework Help

Dan is considering the purchase of Super Technology, Inc. bonds that were issued 5 years ago. When the bonds were originally sold they had a 28-year maturity and a 10.27 percent coupon interest rate, paid annually. The bond is currently selling for $1,090. Par value of the bond is $1,000. What is the yield to maturity on the bonds if you purchased the bond today?

Round the answers to two decimal places in percentage form.