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Consider a 10 -year $1,000 par value bond that has 5 years remaining until it...

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Accounting

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Consider a 10 -year $1,000 par value bond that has 5 years remaining until it matures. The bond has an anual coupon rate of 5.5%. Coupons are paid semiannually. If you were to buy the bond today for $1,079.24, what would be the bond's Yield to Maturity (YTM)? (Round your answer to the nearest one-hundredth of a percent. Do not enter the percentage symbol. For example, if your answer is 12.3456789\%, enter 12.35. Do not worry if Canvas truncates trailing zeros.)

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