Company A has a bond outstanding that pays a 6% coupon. The interest is paid annually, and thus matures in 10 years. The market rate of interest on bonds of similar risk is 5% and the bond is sell $1,077.32. One year from today, the bond is expected to be selling for $1,071.08. What is the cost on the bond?

a) 6.0000%

b) 5.5694%

C) 5.6018%

d) 5.0000%