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14. AB Builders, Inc. has outstanding bond issue with a face value of $1,000 and a market price of $9 48 and 1 5 years

14. AB Builders, Inc. has outstanding bond issue with a face value of $1,000 and a market price of $948 and 15 years left to maturity. The bonds pay interest annually and have an annualyield to maturity of 5 percent. What is the annual coupon rate? A. 3.75 percent B. 3.88 percent C. 4.00 percent D. 4.25 percent E. 4.50 percent

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