A Corporate Bond Has a Face Value of $1,000, and Pays

A corporate bond has a face value of $1,000, and pays a $50 coupon every six months (i.e., the bond has a 10 percent semiannual coupon) . The bond matures in 12 years and sells at a price of $1,080. What is the bond's nominal yield to maturity?

A) 8.28%
B) 8.65%
C) 8.90%
D) 9.31%
E) 10.78%