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Step by step without financial calculator functions: Your firm has just issued a 20-year $1,000.00 par value, 10% annual coupon bond for a net price

Step by step without financial calculator functions:

Your firm has just issued a 20-year $1,000.00 par value, 10% annual coupon bond for a net price of $964.00. What is the yield to maturity? Don't use a financial calculator to determine your answer.

A) 10.60%

B) 11.10%

C) 10.44%

D) 10.16%

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