Sanibel Industries has $1,000 par value bonds with a coupon rate of 7% per year making semiannual coupon payments. If there are 11 years remaining prior to maturity and these bonds are selling for $1,076, what is the annual yield to maturity for these bonds?

a) 1.51% b) 3.03% c) 6.04% d) 12.10%

Please show how to solve manually (not using a financial calculator). Thank you