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Watch-over-ya Securities has issued $1,000 par value bonds with 21 years maturity. The bonds pay 7.75% interest on a semi-annual basis. The current market price

Watch-over-ya Securities has issued $1,000 par value bonds with 21 years maturity. The bonds pay 7.75% interest on a semi-annual basis. The current market price of the bonds is $1,350. What is the yield-to-maturity of these bonds?

a.		5.03%
b.		7.21%
	c.	8.26%
	d.	2.52%

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