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Pelzer Printing Inc. has bonds outstanding with 1 1 years left to maturity. The bonds have an 8 % annual coupon rate and were issued

Pelzer Printing Inc. has bonds outstanding with 11 years left to maturity. The bonds have an 8% annual coupon rate and were issued 1 year ago at their par value of $1000. However, due to changes in interest rates, the bond's market price has fallen to $800. The capital gains yield last year was -9.17%. What is the yield to maturity?
a.
7.21%
b.
8.81%
c.
11.26%
d.
4.21%
e.
9.56%

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