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Preston Corporation has a bond outstanding with an annual interest payment of $90, a market...

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Preston Corporation has a bond outstanding with an annual interest payment of $90, a market price of \$1,240, and a maturity date in 8 years. Assume the par value of the bond is $1,000 Find the following: (Use the approximation formula to compute the approxlmote yleld to moturlty and use the calculator method to compute the exact yleld to maturlty. Do not round Intermedlate calculatlons. Input your answers as a percent rounded to 2 declmal places.)

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