Savvy Sammy just sold a 9.5% coupon bond with 8 years remaining maturity for $1,080. He purchased the bond two years ago, which is when the bond was first issued to the public as a new-issue par bond.

What is Sammy's realized holding period yield (HPY) on his investment? O 13.13% 8.89% 5.23% 9.50% 8.12%