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The bonds for Apple Corp. have been very popular. A key factor in that is the annual coupon rate on the bonds. The bonds have

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The bonds for Apple Corp. have been very popular. A key factor in that is the annual coupon rate on the bonds. The bonds have a par value of $2,000 The time to maturity is 12 years. Interest is compounded on a semi-annual basis. The annual YTM is 7.86% The current price of the bond is $846.43 What is the annual coupon interest rate on the bond? a. Annual Coupon Interest Rate = 3.93% b. Annual Coupon Interest Rate = 2.93% c. Annual Coupon Interest Rate = 5.86% d. Annual Coupon Interest rate = 7.86%

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