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Bauer Inc.'s bonds currently sell for $1,275 and have a par value of $1,000. They pay a $120 annual coupon and have a 20 -year

Bauer Inc.'s bonds currently sell for $1,275 and have a par value of $1,000. They pay a $120 annual coupon and have a 20 -year maturity, but can be called in 5 years at $1,120. What is the yield to maturity (YTM)? 8.78% 8.99% 9.15% 9.33%

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