ABC Corp has bonds on the market with 7.5 years to maturity, a YTM of 8 percent, and a current price of $960. The face value is $1,000. The bonds make semi-annual (every six months) payments. What must be the dollar coupon amount every six-months for an ABC bond?

Hint: A YTM of 8% for a semiannual bond is a reporting convenience. It implies the actual 6 month return is 4%.

You need to use the annuity formula to solve this one.