McConnell Corporation has bonds on the market with 14 years to maturity, a YTM of 10.0 percent, a par value of $1,000, and a current price of $1,186.50. The bonds make semiannual payments. What must the coupon rate be on these bonds?

Multiple Choice

• 10.54%

• 21.12%

• 12.60%

• 25.06%

• 12.50%