Cotner Industries has a bond outstanding with a 30-year matu…

Cotner Industries has a bond outstanding with a 30-year maturity, a 10% annual coupon rate, and a $1,000 par value.  The bond has a 7% yield to maturity, but it can be called in 8 years at a price of $1,100.  What is the bond’s yield to call?  [Hint:  Be sure to carry out your calculation to 4 decimal places if calculating this answer as a decimal or to 2 decimal places if calculating this answer as a percentage.]