Johnnie received some bonds from his grandmother. The bonds have 16.5 years to maturity, a YTM of 7.7 percent, a par value of $1,000, and a current price of $1,065. They also make semiannual payments. He is unsure on the coupon rate and so has enlisted your help. What must the coupon rate be on the bonds that Johnnie received? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Coupon rate %