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The SPH Company has a bond outstanding with a face value of $1,000 that reaches maturity in 13 years. The bond certificate indicates that the

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The SPH Company has a bond outstanding with a face value of $1,000 that reaches maturity in 13 years. The bond certificate indicates that the stated coupon rate for this bond is 7.60% and that the coupon payments are to be made semiannually. Assuming that this bond currently trades for $908, what is the Yield-to- Maturity (YTM) for this bond? 8.80% 4.40% 9.89% 7.97% 9.32%

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