A ten-year 1000 par value bond with coupons paid annually at an annual rate of R. r is callable at par at the end of the 6th, 7th, 8th, or 9th year. The price of the bond is 1,023. If the bond is called in the worst-case scenario for the bond investor, the resulting annual effective yield rate, i, is 96% of r. Calculate i.

A. 4.41%

B. 7.46%

C. 8.36%

D. 10.56%

E. 14.32%