Sue just purchased a 2-year Treasury bond with a coupon rate of j2 =3.73% p.a. and a face value of $100 that matures at par. The purchase price was $98.80. a) Use the approximate bond yield formula to estimate the yield rate. Give your answer in j2 form, expressed as a percentage and rounded to 3 decimal places.

a. 4.356% b. 4.402% c. 2.178% d. 2.201%