Sykora Corp. sells $$540,000$ of bonds to private investors. The bonds are due in $5$ years, have a $6\%$ coupon rate and interest is paid semiannually. Sykora received $$490,222$ for the bonds at issuance.

The effective rate on these bonds is:

Select one:

a$.$ None of these are correct.

b$.10\%$

c$.4\%$

d$.8\%$

e$.5\%$