The Outstanding Bonds of the River Front Ferry Carry a 6.5

The outstanding bonds of The River Front Ferry carry a 6.5 percent coupon. The bonds have a face value of $1,000 and are currently quoted at 101.6. What is the current yield on these bonds?

A) 1.60 percent
B) 2.37 percent
C) 6.40 percent
D) 6.49 percent
E) 6.88 percent