A bond is quoted, this period, at a price of $1,125 and a yield to maturity of 7%. Next period, the bond price is expected to be quoted at $1,113.75 with the same yield to maturity. The bond has a face value of $1,000. What does this bond pay as coupon rate in percent? (Do not round your intermediate calculations. Round the final answer, if necessary, to two decimal places and enter it in canvas without the percent (\%) sign)