The 3.8% Purple Power Paints bond that matures on May 15, 2032 is quoted as having a price of 98.56. From this information we know that:

Multiple Choice

A) the yield to maturity on the bond is less than 3.8 percent.

B) the current yield on the bond is less than the coupon rate.

C) the yield to maturity is more than 3.8 percent.

D) none of these answers.

E) the yield to maturity on the bond is equal to 3.8 percent.