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Lanker Enterprises has bonds on the market making semi-annual payments, with 15 years to maturity, a par value of $1,000, and a price of $847.44.

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Lanker Enterprises has bonds on the market making semi-annual payments, with 15 years to maturity, a par value of $1,000, and a price of $847.44. At his price, bonds yield 9.5 percent. What must the coupon rate be on the bonds? Select one: a.7.571% b.8.833% c.8.935% d.7.902%

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