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Chisholm Inc. sold a 15 year $1,000 face value bond with a 10% coupon rate. Interest is paid semiannually. If the price of each bond

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Chisholm Inc. sold a 15 year $1,000 face value bond with a 10% coupon rate. Interest is paid semiannually. If the price of each bond is $928, as quoted in the Wall Street Journal, what is the yield-to-maturity of the bond? a) 5.50% b) 10.99% c) 10.00% d) 6.59% e) 7.76%

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