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You find the following Treasury bond quotes. To calculate the number of years until maturity, assume that it is currently May 2016. The bonds have

You find the following Treasury bond quotes. To calculate the number of years until maturity, assume that it is currently May 2016. The bonds have a par value of $1,000.

Rate Maturity
Mo/Yr
Bid Asked Chg Ask
Yld
?? May 23 103.5527 103.6409 +.3080 2.429
5.474 May 28 104.5017 104.6474 +.4353 ??
6.188 May 38 ?? ?? +.5470 4.131

In the above table, find the Treasury bond that matures in May 2023. What is the coupon rate for this bond? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Coupon rate

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