McConnell Corporation has bonds on the market with 19 years to maturity, a YTM of 10.0 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?

a) 13.87%

b) 20.96%

c) 10.46%

d) 13.97%

e) 27.81%