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A 9% coupon bond with 15 years remaining to maturity is selling at a price of $1,350 per $1,000 par value. The bond has semi-annual

A 9% coupon bond with 15 years remaining to maturity is selling at a price of $1,350 per $1,000 par value. The bond has semi-annual coupon payment dates. Compute the quoted yield-to-maturity (YTM) on this bond.

a) 11.08

b) 7.00%

c) 5.54%

d) 1.95%

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