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A $40,000 bond with semi-annual coupon payments at 5.5% compounded semi-annually is redeemable at par in 12 years. Calculate the yield rate if the bond

A $40,000 bond with semi-annual coupon payments at 5.5% compounded semi-annually is redeemable at par in 12 years. Calculate the yield rate if the bond is purchased at 102.5. Select one: a. 5.99% b. 6.81% c. 7.12% d. 5.22% e. 6.22%

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