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McConnell Corporation has bonds on the market with 17 years to maturity, a YTM of 11.0 percent, a par value of $1,000, and a current

McConnell Corporation has bonds on the market with 17 years to maturity, a YTM of 11.0 percent, a par value of $1,000, and a current price of $1,216.50. The bonds make semiannual payments. What must the coupon rate be on these bonds? Multiple Choice 22.80% 13.84% 27.74% 11.38% 13.94%

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