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10 points) A$100 bond with annual coupons is redeemable at par at the end of 18 years. At a purchase price of $77 the yield

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10 points) A$100 bond with annual coupons is redeemable at par at the end of 18 years. At a purchase price of $77 the yield rate is exactly 3% more than the coupon rate. Find the yield rate on the bond. A. 6.33% B. 2.77% C. 11.07% D. 9.23% E. 17.72%

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