A bond has a current market price of $$704,$ a YTM of $10\mathrm{.}4$ percent, pays a $6\mathrm{.}2$ percent coupon $($paid annually$),$ and has a face value of $$1,000.$ How many

years is it until these bonds mature?

Multiple Choice

$15\mathrm{.}34$ years

$7\mathrm{.}67$ years

$13\mathrm{.}34$ years

$9\mathrm{.}48$ years

$9\mathrm{.}21$ years

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