Sunset Sales Has 6

Sunset Sales has 6.8 percent coupon bonds on the market with 11 years left to maturity. The bonds make semiannual payments and currently sell for 98.6 percent of par. What is the effective annual yield?

A) 7.24 percent
B) 7.19 percent
C) 7.33 percent
D) 7.11 percent
E) 7.07 percent