We have been provided with the information as under

Shinoda Corp. has 6 percent coupon bonds

YTM of 5.3 percent.

current yield on these bonds is 5.65 percent.

Annual payments on a 1,000 bond are 6 %, or 60. If the current yield is 5.3 %, i.e. 60 / Current Price, then Current Price is 60 / .053

= 60 /0.053

=1132.075

With PV 1132.075

, FV 1,000,

PMT 60,

YTM 5.65%,

Now that we have the price of the bond, the bond price equation is:

P = $1,132.075 = $60[(1 – (1/1.053)^t ) / .053] + $1,000/1.053t
=11.65 years