McConnell Corporation has bonds on the market with 17 years to maturity, a YTM of 8.6 percent, a par value of $1,000, and a current price of $1,196.50. The bonds make semiannual payments. What must the coupon rate be on these bonds?

• 10.92%

• 9.04%

• 21.68%

• 10.82%

• 18.12%