McConnell Corporation has bonds on the market with 12 years to maturity, a YTM of 8.4 percent, a par value of $1,000, and a current price of $1,326.50. The bonds make semiannual payments. What must the coupon rate be on these bonds?

9.63%

19.33%

12.77%

12.87%

25.65%

9.

Gugenheim, Inc., has a bond outstanding with a coupon rate of 7.2 percent and annual payments. The yield to maturity is 8.4 percent and the bond matures in 22 years. What is the market price if the bond has a par value of $2,000?

$1,765.45

$1,761.03

$1,767.77

$1,797.99

$1,762.74