Bluff Enterprises has $1,000 face value bonds outstanding. These bonds pay interest semiannually, mature in 6 years, and have a 7 percent coupon. The current price is quoted at 101.36. What is the yield to maturity?
a. 5.97 percent
b. 6.49 percent
c. 6.72 percent
d. 6.86 percent
e. 7.11percent