单选题 Suppose that IBM has a $1000 par value bond outstanding with a 12 percent semiannual coupon that is currently trading at 102.25 with seven years to maturity. Which of the following is closest to the yield to maturity on the bond?

A. 11.21%.
B. 11.64%.
C. 11.52%.

【正确答案】 C

【答案解析】To find the YTM, enter PV=-$1022.50, PMT=$60, N=14, FV=$1000 and solve for I/Y=5.76%. Now multiply by 2 for the semiannual coupon payments: 5.76×2=11.52%.