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JCT Inc. just issued $1,000 par 30-year bonds. The bonds sold for $638.18 and pay interest semiannually. Investors require a rate of 11% on

JCT Inc. just issued $1,000 par 30-year bonds. The bonds sold for $638.18 and pay interest semiannually.

JCT Inc. just issued $1,000 par 30-year bonds. The bonds sold for $638.18 and pay interest semiannually. Investors require a rate of 11% on the bonds. What is the bonds' coupon rate?

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