Question 2 (10 points) Merton Enterprises has bonds on the market making semi-annual payments with 15 years to maturity, and selling for $950. At this price, the bonds yield 7.5%. What must the coupon rate be on Merton's bonds? 1) 6.75% 2) 6.81% 3) 6.94% 4) 7.08% 5) 7,16% Save Page 2 pf 20 to Save