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You are interested in purchasing a bond from ExAm Solutions. The bond had a 40 year maturity when it was issued, which was 10 years

You are interested in purchasing a bond from ExAm Solutions. The bond had a 40 year maturity when it was issued, which was 10 years ago. Its face value was $1,000. The bond pays quarter interest at an 8% coupon rate. The bond currently trades at a price of $950, what is the YTM
a.
.092
b.
.0222
c.
A different value
d.
.0846
e.
.0889

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