Given the Bond Described Above, If Interest Were Paid Semi-Annually

Multiple Choice

Given the bond described above, if interest were paid semi-annually (rather than annually) and the bond continued to be priced at $917.99, the resulting effective annual yield to maturity would be $\begin{array}{lc}\text { Par Value } & \$ 1,000 \\\text { Time to Maturity } & 18 \text { Years } \\\text { Coupon } & 9 \% \text { (paid annually) } \\\text { Current price } & \$ 917.99 \\\text { Yield to Maturity } & 12 \%\end{array}$

A) less than 10%.
B) more than 10%.
C) 10%.
D) Cannot be determined.
E) None of the options are correct.