A 20-year callable bond with annual coupons of 1000 can be redeemed at the end of years 11 through 15 for 10,000, or at the end of years 16 through 20 for 9,000. Jack purchases the bond at the highest price which will guarantee him an annual yield of at least 8%. The issuer holds the bond to maturity (i.e. redeemed it at the end of year 20). Determine Jack's annual yield over the time he holds the bond. 8.1% 8.2% 8.3% 8.4% 8.5%