Dawgpound Incorporated has a bond trading on the secondary market that will mature in four years. The bond pays an annual coupon with a coupon rate of 4.25% and has a face value of $1,000.00. Based on the economy and risk associated with Dawgpound, you seek a 12.25% return on Dawgpound debt. What price are you willing to pay for the bond?

Trek Star Productions has bonds trading in the secondary market that mature in 15.00 years. Each bond pays an annual coupon of $95.25 with a face value of $1,000.00. Investors in Trek Star debt currently seek an 11.00% return.

What is the coupon rate associated with Trek Star bonds?