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The Chauncey Corporation currently has a bond outstanding with a coupon rate of 6 percent and annual payments. The bond is currently selling for $

The Chauncey Corporation currently has a bond outstanding with a coupon rate of 6 percent and annual payments. The bond is currently selling for $983.04. The bond matures in 11 years and has a par value is $1,000. What is the yield to maturity (YTM) of The Chauncey Company's bonds?
3.11%
12.29%
6.37%
None of these options are correct
6.22%
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