Mining Fund has purchased a bond with 8 years remaining until maturity and a $1,000 face value. The bond is currently selling at a price of $950. The bond offers 9% coupon rate with interest paid annually. The bond may be called in 4 years at a call price of $1,060. What is the bonds yield to maturity (YTM)? *

a. 9.87%

b. 11.69%

c. 7.87%

d. 5%

e. None of the above