A 15-year coupon bond currently sells for 90 percent of its face value. That is $900 for a $1,000 face value bond. It has a coupon rate of 10 percent paid annually. What is the yield to maturity of this bond? (No calculations required, just thinking.)

a. 10% b. 8% c. 5% d. More than 10% e. Less than 4%.