uppose Tim pays $$940,$ at issuance, to purchase a $10-$year bond with a par value of $$1,000$ and a $7$ percent coupon and holds the bond to maturity. What is his yield to maturity?

$7\mathrm{.}34\%$

$7\mathrm{.}57\%$

$7\mathrm{.}89\%$

$8\mathrm{.}52\%$