Palmer Products has outstanding bonds with an annual 4.1 percent coupon. The bonds have a par value of $1,000 and a price of $827. The bonds will mature in 6 years. What is the yield to maturity on the bonds? 8.12% 8.42% 9.02% 7.82% 8.72%

Palmer Products has outstanding bonds with an annual 4.1 percent coupon. The bonds have a par value of $1,000 and a price of $827. The bonds will mature in 6 years. What is the yield to maturity on the bonds? 8.12% 8.42% 2.02% 7.82% 8.72%