A bond with 20 years to maturity is selling for $1,250 and has a yield to maturity of 7.5 percent. if this bond pays its coupon payments semi annually and its par value is $1000, what is the bonds annual coupon rate? (Round your answers two decimal places.)

A. 9.93%

B. 10.42%

C. 15.13%

D. 8.57%