McConnell Corporation has bonds on the market with $19$ years to maturity, a YTM of $9\mathrm{.}2$

percent, a par value of $$1,000,$ and a current price of $$1,286\mathrm{.}50.$ The bonds make

semiannual payments. What must the coupon rate be on these bonds? $($Note: first find

the semi$-$annual payment. Then convert it into an annual payment and use this annual

payment to find the coupon rate as an APR.$)$

Multiple Choice

$19\mathrm{.}35\%$

$9\mathrm{.}65\%$

$12\mathrm{.}52\%$

$24\mathrm{.}89\%$

$12\mathrm{.}42\%$