DEF Ltd's bonds are selling today at a $58.40 discount based on a face value of $1,000. They have a 7.30% coupon rate, pay semi-annual coupons and will mature in 6 years. If DEF were to issue similar bonds today, what will be its coupon rate if they are sold at par and mature in 6 years?

a.

9.57%

b.

7.30%

c.

8.57%

d.

4.28%

e.

10.28%

Please explain how to solve using financial calculator