Looking at The Wall Street Journal you observe that the settlement price on a hypothetical 15-year, semiannual payment, 5% coupon Treasury note is 105-210. If the note has a $1,000 par value, what is the implied Treasury note rate? Do not round your intermediate calculations.

	a.	4.16%
	b.	4.66%
	c.	4.48%
	d.	3.40%
	e.	3.94%