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McConnell Corporation has bonds on the market with 12 years to maturity, a YTM of 11.0 percent, a par value of $1,000, and a current

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McConnell Corporation has bonds on the market with 12 years to maturity, a YTM of 11.0 percent, a par value of $1,000, and a current price of $1,306.50. The bonds make semiannual payments. What must the coupon rate be on these bonds? Multiple Choice 11.99% 15.76% 31.44% 15.66% 24.07%

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