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Grand Armory Brewing Company issued 15-year semi-annual bonds 4 years ago. The current market average rate of interest (YTM) for similar risk bonds is 9.6%,

Grand Armory Brewing Company issued 15-year semi-annual bonds 4 years ago. The current market average rate of interest (YTM) for similar risk bonds is 9.6%, and the bonds have a $1,000 par value. What is the annual coupon rate for this bond if they are currently selling for $925 out on the market?

Group of answer choices

12.697%

8.108%

10.781%

9.023%

8.481%

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