Based on your risk assessment, your required rate of return is 9 percent for a bond you own. It has 10 years left to maturity; it is a $1,000 par value bond paying 8 percent interest semiannually. The market price of the bond is $850.

Find the yield-to-maturity of the bond.

Selected Answer:	D. 10.45%
Answers:	A. 8.46%
	B. 9.13%
	C. 9.5%
	D. 10.45%
	E. 12.20%

please explain how to get the answer, step by step