2. After successfully completing FI 3300, Rachael is considering buying some bonds to add to her recently started retirement account. She is looking at a bond issued by ABC that pays coupon interest semi-annually, has 12 years remaining to maturity, and has a yield-to-maturity is 8.00%. If the market price of the bond is $5,762.35 then bonds coupon rate must be ____%. Assume a $5,000 par value.

a. 8.00

b. 9.00

c. 10.00

d. 11.00

e. 12.00