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Suppose a five-year bond with an 8% coupon rate, face value of $1,000 and semiannual compounding is trading for a price of $922.78. Expressed as
Suppose a five-year bond with an 8% coupon rate, face value of $1,000 and semiannual compounding is trading for a price of $922.78. Expressed as an APR with semiannual compounding, this bond's yield to maturity (YTM) is closest to:
A. 11.65%
B. 10.00%
C. 20.08%
D. 5.00%
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