Kiss the Sky Enterprises has bonds on the market making annual payments, with 12 years to maturity, and selling for $960

Subject:FinancePrice:2.89 Bought3

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Kiss the Sky Enterprises has bonds on the market making annual payments, with 12 years to maturity, and selling for $960. At this price, the bonds yield 7.5 percent. What must the coupon rate be on the bonds?

 

13.97%

7.08%

7.50%

6.98%

7.27%