Assume thezero-coupon yields ondefault-free securities are as summarized in the followingtable:

Maturity

1 year

2 years

3 years

4 years

5 years

Zero-Coupon Yields

4.70

4.70%

5.30

5.30%

5.60

5.60%

5.80

5.80%

5.90

5.90%

Consider afour-year, default-free security with annual coupon payments and a face value of $ 1 comma 000

$1,000 that is issued at par. What is the coupon rate of thisbond?

The par coupon rate is

nothing

%. (Round to two decimalplaces.)