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Ashes Divide Corporation has bonds on the market with 15 years to maturity, a YTM of 6.4 percent, and a current price of $1,286.50. The

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Ashes Divide Corporation has bonds on the market with 15 years to maturity, a YTM of 6.4 percent, and a current price of $1,286.50. The bonds make semiannual payments. What must the coupon rate be on these bonds? 18.85% 14.66% 7.31% 9.40% 9.50%

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