The Timberlake-Jackson Wardrobe Co. has 10.1 percent coupon bonds on the market with ten years left to maturity.
The bonds make annual payments and have a par value of $1,000. If the bonds currently sell for $1,155.73, what is the YTM?
(Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)