You buy a bond at time zero. the yield to maturity is 6%, the annual coupon is 5%, the redemption value is 100, and there are 10 years to maturity. after the fourth coupon payment the increases to from 6% to 8% and rekindle mains there. you buy the bond at time zero and reinvest your coupons until the end of a ten year investment horizon.
What is your horizon yield for this investment .
(in percent x.xx without a percentage sign.)