Josh Kavern bought 10-year, 11.5 percent coupon bonds issued by the U.S. Treasury three years ago at $918.94. If he sells these bonds, for which he paid the face value of $1,000, at the current price of $811.27, what is his realized yield on the bonds? Assume similar coupon paying bonds make annual coupon payments. (Round intermediate calculations to 5 decimal places, e.g. 1.25145 and final answer to 2 decimal places, e.g. 15.25%.)
Realised rate of return