You purchased an annual interest coupon bond one year ago that had nine years remaining to maturity at that time. The coupon interest rate was 10%p.a., and the par value was $1,000. At the time you purchased the bond, the yield to maturity was 8%p.a. If you sold the bond after receiving the first interest payment and the yield to maturity continued to be 8%p.a., your annual total rate of return on holding the bond for that year would have been

a. 8.00%. b. 7.82%. c. 7.00%. d. 11.95%. e. None of the options is correct.