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Corduroy Inc. has bonds on the market with 13 years to maturity, a YTM of 9.0 percent, a par value of $1,000, and a current

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Corduroy Inc. has bonds on the market with 13 years to maturity, a YTM of 9.0 percent, a par value of $1,000, and a current price of $1,136.50. The bonds make semiannual payments. What must the coupon rate be on these bonds? (Hint: You will first need to find coupon amount.) Multiple Choice 19.05% 10.90% 10.80%

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