14. An investor purchases a bond in 2005 for $1,150 with 10 years to maturity. The par value is $1,000. The annual coupon rate is 12 percent and coupon payments are made semi-annually. Assuming semi-annual compounding, what is the annual yield-to-maturity on the bond?

Group of answer choices

a. 2.24 %

b. 4.82%

c. 6.06 %

d. 9.63 %