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Night Hawk Co. issued 16-year bonds two years ago at a coupon rate of 9.5 percent. The bonds make semiannual payments. If these bonds currently

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Night Hawk Co. issued 16-year bonds two years ago at a coupon rate of 9.5 percent. The bonds make semiannual payments. If these bonds currently sell for 104 percent of par value, what is the YTM? Select one: a. 9.99% b. 7.99% c. 4.50% d. 8.28% e. 8.99%

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