18) Alex purchased a $1,000 par value bond one year ago at a price of $1,016. At the time of purchase, the bond had 12 years to maturity and a 5 percent, semiannual coupon. Today, the bond has a yield to maturity of 5.25 percent. What is his realized yield as of today? A) 6.25 percent B) 3.75 percent C) 2.43 percent D) 1.32 percent E) 0.86 percent