PK Software has 8.4 percent coupon bonds on the market with 23 years to maturity. The bonds make semiannual payments and currently sell for 110.25 percent of par.
Requirement 1:
What is the YTM? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)
Yeild to maturity _____%
Requirement 2:
What is the effective annual yield? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)
Effective Annual Rate ____%