You own a bond with a par value of $1,000 and a coupon rate of 7.00% (semiannual coupon). You know it has a current yield of 9.50%. What is its yield to maturity? The bond has 5 years to maturity. Current Yield = (annual payment / price). (hint: solve for price to answer the question).

14.79%

15.30%

14.60%

15.92%

13.40%