Technical Sales, Inc. has 6.6 percent coupon bonds on the market with 9 years left to maturity. The bonds make semiannual payments and currently sell for 92.5 percent of par. What is the effective annual yield?

A. 7.93 percent

B. 7.34 percent

C. 8.60 percent

D. 7.52 percent

E. 7.40 percent