A firm has $3 million in outstanding 10-year bonds, with a fixed rate of 8 percent (assume annual payments). The bonds trade at a price of $92 per $100 par in the open market. The firm’s marginal tax rate is 35 percent. What is the after-tax component cost of debt to be used in the weighted average cost of capital (WACC) calculations? Here is the answer: If the bonds are trading at $92 per $100 par, the required yield is 9.26 percent, and the market value of the issue is $2.76 million. The equivalent after-tax cost of this financing is: 9.26% (1 – 0.35) = 6.02%. My questions is…where do you get that required yield of 9.26%? I know it’s basic…exam is in 2 days and i am losing it 
Thanks!
from your calculator… PV -92, N10, FV100, PMT 8 compute I/Y
N=10 PV=-92 FV=100 PMT=8 CPT>I/Y = 9.26
ahh thanks!! Dumb ass me was using PMT 0.24
i am a little confused…so you use the PV= -92 But if you look at this one: An investor purchases a $1,000 par value accrual bond with a 3-year maturity. The bond pays 5% interest compounded semiannually at the bonds maturity. Calculate the amount that will be received on maturity. The answer is 1[2nd][N], 6[N], 2.5[I/Y], 25[PMT], 0[PV], [CPT][FV] = 159.69 So PV is set as 0 here…I don’t know what’s the difference? I thought the investor put down money today in both situations? Thanks