The Quoted Ask Yield on a 30-Year $1000 Par T-Bond

The quoted ask yield on a 30-year $1000 par T-Bond with a 6.25% coupon and a price quote of 106:16 is ___________ (use semiannual compounding) .

A) 2.94%
B) 2.90%
C) 5.79%
D) 5.87%
E) 4.95% $1,065.00 = $31.25* PVIFA (r%, 60) + $1,000 * PVIF (r%, 60 yrs) ; trial and error or financial calculator for r