Palmer Products has outstanding bonds with an annual 10.7 percent coupon. The bonds have a par value of $1,000 and a price of $1,158. The bonds will mature in 15 years. What is the yield to maturity on the bonds? O 7.77% O 6.77% O 8.27% O 8.77% O 7.27%

Palmer Products has outstanding bonds with an annual 10.7 percent coupon. The bonds have a par value of $1.000 and a price of $1.158. The bonds will mature in 15 years. What is the yield to maturity on the bonds? 7.77% 6.77% 8.27% 8.77% 7.27%