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Today is January 1, 2008, and you are considering the purchase of a current Puckett Corporation...

Today is January 1, 2008, and you are considering the purchase of a current Puckett Corporation bond issued on January 1, 2006. The Puckett bond has an annual coupon of 9.5 percent and an original maturity of 30 years (expires 31 December 2037). Interest rates have decreased since the bond was issued, and the bond is now selling at 116,575 percent of its face value, or $ 1,165.75. What is the yield to maturity in 2008 for the Puckett bond? (Interest is paid annually.)
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