Y Hotels and Resorts has a bond issue outstanding that pays an 8.5 percent coupon and matures in 16.5 years. The bonds have a par value of $1,000 and a market price of $944.30. Interest is paid semiannually. What is the yield to maturity? 8.36 percent

8.42 percent

8.61 percent

8.74 percent

9.16 percent