Ten years ago the HU Company issued 25-year bonds with an 11% annual coupon rate at its $1,000 par value. The bonds had an 8% call premium, with 4 years of call protection. Today HU called the bonds. Compute the realized rate of return for an investor who purchased the bonds when they were issued and held them until they were called. Round your answer to two decimal places. (annual compounding)

V B = I N T ( 1 + r d ) t + M ( 1 + r d ) t ; P r i c e o f C a l l a b l e B o n d = I N T ( 1 + r d ) t + C a l l p r i c e ( 1 + r d ) t

Group of answer choices

7.97%

10.28%

8.45%

11.47%

9.71%

please show work