P$7-7$ Bond Yields $[$LO$2]$

West Corporation issued $20-$year bonds $2$ years ago at a coupon rate of $9\mathrm{.}9$ percent. The bonds make semiannual payments. If these bonds currently sell for $96$ percent of par value, what is the YTM$?$

Multiple Choice

$5\mathrm{.}20\%$

$9\mathrm{.}36\%$

$10\mathrm{.}40\%$

$11\mathrm{.}44\%$