Horry-Brunswick Railroad, Inc. bonds are currently trading at $862. The bonds have a face value of $1,000, a coupon rate of 8%, and 10 years until maturity. The bonds pay interest twice per year.

What is the yield-to-maturity on one of these bonds if purchased at the current market price?

Select one:

a. 10.27 %.

b. 10.24 %

c. 9.71 %

d. 9.24 %

e. none of the above