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Draiman Corporation has bonds on the market with 1 6 . 5 years to maturity, a YTM of 1 0 . 6 percent, a par

Draiman Corporation has bonds on the market with 16.5 years to maturity, a YTM of 10.6 percent, a par value of $1,000, and a current price of $942. The bonds make semiannual payments. What must the coupon rate be on the bonds?
Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g.,32.16.
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