Suppose GM sold 10-year bonds with a coupon of $60. The bonds pay semi-annual payments at the end of each period. If the current price is $925, the annual yield to maturity is closest to: {remember: your excel answer will be based on a 6-month basis}.

Question 15Select one:

a.

3.00%

b.

4.68%

c.

6.00%

d.

7.06%

e.

7.28%