Answer : YTM = 10.25%

Working Notes for the above answer is as follow

Springfield Nuclear Energy Inc. bonds are currently trading at $954.41.

So MV = 954.41

The bonds have a face value of $1,000,

Par value =1000

a coupon rate of 9.5% with coupons paid annually,

and they mature in 10 years.

So n=10

the yield to maturity of the bonds is calculated as under

YTM = ( C+ F-P / n ) / F+P / 2

C= Coupon Rate

F =Face Value

P=Price

N= Number of years

YTM = 9.5 + (1000-954.41) /10 / (1000+951.41) /2

= 10.25%