P7-8 Coupon Rates [LO2] McConnell Corporation has bonds on the market with 10 years to maturity, a YTM of 72 percent, a par value of $1,000, and a current price of $1,316.50. The bonds make semiannual payments. What must the coupon rate be on these bonds? Gabriele Enterprises has bonds on the market making annual payments, with 7 years to maturity, a par value of $1,000, and selling for $940. At this price, the bonds yield 8.4 percent. What must the coupon rate be on the bonds? Multiple Choice 7.69% 14,46%