Ordinary bonds issued by Vanguard mature in 21 years and pay coupons twice per year. These Vanguard bonds, which are scheduled to pay a coupon in exactly 6 months, currently sell for $1,055.02. If these Vanguard bonds have an annual coupon rate of 6.5%, their YTM is:

Multiple Choice

• 3.02%

• 4.53%

• 6.03%

• 5.43%

• 5.73%