Michael purchased a bond 5 years ago. At that time, it had 15 years to maturity and was priced 5%. it has 1000 par value and a coupon rate 7%. right after Michael purchased the bond interest rates rose 6% and have remained there for the last 5 years. If Michael sells his bond today what will his realized yield be (or holding period return)

-5.12%

-3.09%

-8.15%

-7%