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PGP Co. expects to issue a $1,000 face-value bond that matures in 8 years. The annual coupon rate is 9%, and interest payments are expected

PGP Co. expects to issue a $1,000 face-value bond that matures in 8 years. The annual coupon rate is 9%, and interest payments are expected to be paid semiannually. Similar bonds are currently priced at 101.4% of face value. Given this information, what is the required return by bondholders?

4.38%
8.75%
4.56%
8.49%
9.12%

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