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AB Builders, Inc., has 21-year bonds outstanding with a par value of $2,000 and a quoted price of 96.187. The bonds pay interest semiannually and

AB Builders, Inc., has 21-year bonds outstanding with a par value of $2,000 and a quoted price of 96.187. The bonds pay interest semiannually and have a yield to maturity of 6.95 percent. What is the coupon rate?

  • 6.60%

  • 5.94%

  • 13.20%

  • 9.90%

  • 6.27%

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