A company just issued a 10-year bond that has a face value of $1,000 and a coupon rate of 6.5%. Similar bonds are priced at 88% of par (or face) value. Given this information, what is the yield to maturity on this bond? (assume the bond pays semiannual coupons)
a) 8.15%
b) 8.35%
c) 8.50%
d) 8.65%
