ACCT 431 Eight years ago Camerson and Co. issued 25 year coupon bonds.

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ACCT 431 Eight years ago Camerson and Co. issued 25 year coupon bonds.

 

Eight years ago, Camerson and Co. issued 25-year coupon bonds. The yield to maturity at the time of issuance was 8 percent and the bonds sold at 110% of par value. The bonds are currently selling at par value. What is the current yield to maturity for these bonds? [Assume that the coupon is paid annually]. (Round your answer to 2 decimal places and record as a percent but without a percent sign. For example, record 18.38935.41% as 18.39).