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Really struggling with this question. Any help and insight is greatly appreciated. Thx! The current price of a 10-year, $1,000 par value bond is $1,158.91.

Really struggling with this question. Any help and insight is greatly appreciated. Thx!

The current price of a 10-year, $1,000 par value bond is $1,158.91. Interest on this bond is paid every six months, and the simple annual yield is 14 percent. From the given information, calculate the annual coupon rate on the bond.

10%

12%

14%

17%

21%

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