Collingwood Homes has a bond issue outstanding that pays a 6 percent coupon and matures in 16.5 years. The bonds have a par value of $1,000 and a market price of $944.30. Interest is paid semiannually. What is the yield to maturity?

6.42 percent

6.36 percent

7.74 percent

6.56 percent

8.16 percent