It is now January 1 2012 and you are considering the purchase of an outstandin

It is now January 1 2012 and you are considering the purchase of an outstanding bond that was issued on January 1 2010. It has a 8.5% annual coupon and had
a 15-year original maturity. (It matures on December 31 2024.) There is 5 years of call protection (until December 31 2014) after which time it can be
called at 109-that is at 109% of par or $1090. Interest rates have declined since it was issued; and it is now selling at 111.545% of par or $1115.45.
What is the yield to call? Round your answer to two decimal places.
% -Select- I II III IV V Item 3 -Select- I II III IV V Item 4