A 10-year, 8.00%, $3,000 bond that pays dividends quarterly can be purchased for $2,702. This means that $2,702 is spent on the bond now. Every quarter, $60.00 is provided to the purchaser as the dividend. After 10 years, $3,000 is given to the purchaser. If the bond is purchased and pays as scheduled, which of the following ranges of effective rate of return will the purchaser receive? 9.60% - 10.60% 8.00% - 8.50% 10.61% - 12.61% 8.50%-9.35%