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10. Hollyhock Co. has annual coupon bonds outstanding with a coupon interest rate of 12%. The bonds have a $1,000 par value and 14 years

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10. Hollyhock Co. has annual coupon bonds outstanding with a coupon interest rate of 12%. The bonds have a $1,000 par value and 14 years to maturity. If the annual required return on the bonds is 10.65%, what is the approximate current yield on the bonds? O a. 10.25% O b. 10.95% O c. 11.14% O d. 11.31% O e. 12.16%

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