Jenny is looking to invest in some five-year bonds that pay semi-annual coupons at 6.25 percent per annum and are currently selling at $912.34. The face value is $1,000. The current market yield on such bonds is closest to: (USE EXCEL or FINANCIAL CALCULATOR.)

Select one:

A. 7.44%

B. 8.50%

C. 8.44%

D. 7.50%