Bourdon Software has 7.7 percent coupon bonds on the market with 17 years to maturity. The bonds make semiannual payments and currently sell for 99 percent of par. What is the effective annual yield? (Enter your answer as a percentage, omit the "%" sign in your response, and enter your answer with two decimal places. For example, 1.214% should be entered as 1.21.)
(Enter your answer as a percentage, omit the "%" sign in your response, and enter your answer with two decimal places. For example, 1.214% should be entered as 1.21.)