The yield to maturity of a nine-year, $10,000 bond with a 4.6% coupon rate and semiannual coupons if this bond is currently trading for a price of $9,337 is 5.55%. YTM represents the internal rate of return for a bond investment; it's the discount rate at which the bond's current market price is equal to the present value of its cash flows.Calculation of YTMYield to maturity can be calculated by taking a weighted average of the yield to maturity for each year till maturity with the help of the formula,YTM = ∑ C / (1 + i)t + P / (1 + i)t - B / (1 + i)n / (n / 2)Here, C = Semi-Annual Coupon Payments i = Semi-Annual Discount Rate t = Time Period P = Face Value of the Bond B = Current Market Price of the Bond n = Number of Years to Maturity Therefore, the formula for calculating the yield to maturity of a bond is given below,YTM = [n / (n - 1)] * [C + (FV - PV) / n] / [(FV + PV) / 2]where,PV = the bond's present valueFV = the bond's face valueC = the annual coupon paymentn = the number of years to maturityHere, the bond has a face value of $10,000, a coupon rate of 4.6%, semiannual coupons, a maturity of nine years, and it is currently trading at $9,337. The bond pays a semiannual coupon, and hence the total number of coupon payments will be 18, and the time to maturity is 9 years or 18 semi-annual periods. Thus, applying the formula,YTM = [n / (n - 1)] * [C + (FV - PV) / n] / [(FV + PV) / 2]YTM = [18 / (18 - 1)] * [((4.6 / 2) * 10000) + ((10000 - 9337) / 18)] / [((10000 + 9337) / 2)]YTM = 0.0555 or 5.55%Therefore, the answer is option B.