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Nikita Enterprises has bonds on the market making annual payments, with 1 6 years to maturity, a par value of $ 1 , 0 0

Nikita Enterprises has bonds on the market making annual payments, with 16 years to maturity, a par value of $1,000, and selling for $962. At this price, the bonds yield 8.5 percent. What must the coupon rate be on the bonds?
Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g.,32.16.
Coupon rate
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