Question

McConnell Corporation has bonds on the market with 11 years to maturity, a YTM of 11.0...

McConnell Corporation has bonds on the market with 11 years to maturity, a YTM of 11.0 percent, a par value of $1,000, and a current price of $1,236.50. The bonds make semiannual payments. What must the coupon rate be on these bonds?

Multiple Choice

  • 29.62%

  • 23.96%

  • 14.86%

  • 14.76%

  • 11.94%

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