Redfox has 5.5 percent coupon bonds outstanding with a current market price of $942.50. The yield to maturity is 6.2 percent and the face value is $1,000. Interest is paid annually. How many years is it until these bonds mature?

Select one:

a.

6.56 years

b.

8.43 years

c.

11.83 years

d.

10.32 years

e.

7.29 years