A bond has a $1,000 face value, a market price of $1, 405, and pays interest payments of $74.50 every year. What is the coupon rate? 6.76 percent 7.00 percent 7.12 percent 7.45 percent 8.14 percent The 4.5 percent bond of JL Motors a face value of $1,000, a maturity of 7 years, semiannual interest payments, and a yield to maturity of 6.23 percent. What is the current market price of the bond? $945.08 $947.21 $903.05 $959.60 $912.40