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FINANCE: The bond has a 12% annual coupon rate, a $1,000 par value, it matures in 15 years and pays coupon quarterly. The current bond

FINANCE: The bond has a 12% annual coupon rate, a $1,000 par value, it matures in 15 years and pays coupon quarterly. The current bond price is $900. What is the bonds effective annual yield?

The bond has an 12% annual coupon rate, a $1,000 par value, it matures in 15 years and pays coupon quarterly. The current bond price is $900. What is the bond's effective annual yield? A. None of the answers is correct B. 14.28% O C. 12.85% D. 13.60%

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