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Assume a par value of $1.000.00. A firm plans to issue a 13-year, annual payment bond that has a price of $1,041.07. If the yield

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Assume a par value of $1.000.00. A firm plans to issue a 13-year, annual payment bond that has a price of $1,041.07. If the yield to maturity for the bond is 8.50 p.a.; what will the coupon rate of the bond be? 1) 5.00% 2) 7.97% 3) 6.85% 4) 8.18% 5) None of the given answers for this question are within 0.05 points of the correct answer. 6) 9.03%

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