### Annual coupon rate paid semi annually

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A few years ago Spider Web INC issued bonds with a 8.23 percent annual coupon rate paid semi annually. The bonds have a par value of \$1000 a current price of \$1092 and will mature in 20 years. What would the annual yield to maturity be on the bond if you purchased a bond today? Round the final answer to two decimal places in percentage form.

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