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McConnell Corporation has bonds on the market with 14 years to maturity, a YTM of 8.8 percent, a par value of $1,000, and a current

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McConnell Corporation has bonds on the market with 14 years to maturity, a YTM of 8.8 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 9.68% 12.65% 19.43% 12.75% 25.38%

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