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Valley Manufacturing Inc. just issued $1,000 par 20-year bonds. The bonds sold for $956 and pay interest semiannually. Investors require a rate of 9% on

Valley Manufacturing Inc. just issued $1,000 par 20-year bonds. The bonds sold for $956 and pay interest semiannually. Investors require a rate of 9% on the bonds. The bonds' coupon rate is closest to?

9.37%

8.52%

6.37%

7.38%

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		9.37%
		8.52%
		6.37%
		7.38%