A company offers to sell you a bond, with a par value of $1000, for $604.5. Annual coupons of $50 will be paid until the bond matures 10 years from now, at which time it will be redeemed for $1000. The next coupon will be paid a year from today. What interest rate would you earn if you bought this bond at the offer price?

a. 8.0%

b. 8.5%

c. 9.0%

d. 11.0%

e. 12.0%