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Botanica Incorporation has bonds with 14 years to maturity, a face value of $1000, a YTM of 8.2 percent, and a current price of 1132.

Botanica Incorporation has bonds with 14 years to maturity, a face value of $1000, a YTM of 8.2 percent, and a current price of 1132. The bonds make annual payments. What must be the coupon rate on these bonds? A) 5.36 percent B) 9.82 percent C) 6.89 percent D) 4.91 percent E) 7.23 percent

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