he Pioneer Petroleum Corporation has a bond outstanding with an $90 annual interest payment, a market price of $880, and a maturity date in six years. Assume the par value of the bond is $1,000. Find...

he Pioneer Petroleum Corporation has a bond outstanding with an $90 annual interest payment, a market price of $880, and a maturity date in six years. Assume the par value of the bond is $1,000.

Find the following:(Use the approximation formula to compute the approximate yield to maturity and use a calculator or Excel to compute the exact yield to maturity. Do not round intermediate calculations. Input your answers as a percent rounded to 2 decimal places.)