The bonds of Bexar Corp. have a 9% coupon and mature in 17 years.  They are callable in 3 years at $1,025.  Interest is paid annually.  The bonds are trading in the bond market at $985.  The yield-to-maturity is 10.36%.  The YTM means        

if you buy the bond today and hold it until it is called, your compound annual return will be 9%

if you buy the bond today and hold it until it is called, your compound annual return will be 10.36%

if you buy the bond today and hold it until maturity, your compound annual return will be 9%

if you buy the bond today and hold it until maturity, your compound annual return will be 10.36%