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Otto Enterprises has a 15-year bond issue outstanding with a coupon of 8 percent. The bond is currently priced at $923.60 and has a par

Otto Enterprises has a 15-year bond issue outstanding with a coupon of 8 percent. The bond is currently priced at $923.60 and has a par value of $1,000. Interest is paid semiannually. What is the yield to maturity?

A. 8.67%

B. 9.93%

C. 9.16%

D. 8.93%

E. 8.45%

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