Please explain the solution in detail. The answer should be E

23. You purchase a 7.5% annual coupon bond with a face value-of 1,000 to yield a minimum interest rate of 8% effective. The bond is a callable corporate bond, with a call price of 1,050, and can be called by the issuing corporation aftet five years. The bond matures at par in 30 years. Immediately after the 12th coupon payment, the issuing corporation redeems the bond. Determine the effective annual yield you achieved on this twelve-year investment. (A) 6.5% (B) 70% (C) 75% (D) 8.0% (E) 8.5%