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Jay Aquire is considering the purchase of the following: a Builtrite, $1000 par, 63/8% coupon rate, 15 year maturity bond which is currently selling for

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Jay Aquire is considering the purchase of the following: a Builtrite, $1000 par, 63/8% coupon rate, 15 year maturity bond which is currently selling for $1080. If Jay purchases the bond, what would his approximate yield-to-maturity be? 5.34% O 5.57% O 5.81% 6.05%

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