Nintendo Inc. has bonds outstanding with $11$ years to maturity, make annual interest payments, have a par value of $$1,000,$ and are currently selling for

$$890.$ At this price the bonds yield $10$ percent. What must the coupon rate be on the bonds? $($Hint: You must find the coupon amount first. Do not round

intermediate calculations. Round your final answer to two decimal places.$)$

Multiple Choice

$8\mathrm{.}31\%$

$8\mathrm{.}24\%$

$7\mathrm{.}96\%$

$8\mathrm{.}66\%$

$10\mathrm{.}0\%$