Blue Water Homes have 8 percent bonds outstanding that mature in 13 years. The bonds pay interest semiannually. These bonds have a par value of $1,000 and are callable in 2 years at a premium of $75. What is the yield to call if the current price is equal to 103.25 percent of par?

7.51 percent

7.70 percent

8.06 percent

8.98 percent

9.66 percent