Nikita Enterprises has bonds on the market making annual payments, with nine years to maturity, a...

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Nikita Enterprises has bonds on the market making annual payments, with nine years to maturity, a par value of $1,000, and selling for $978. At this price, the bonds yield 7.4 percent. What must the coupon rate be on the bonds? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Coupon rate % Nikita Enterprises has bonds on the market making annual payments, with nine years to maturity, a par value of $1,000, and selling for $978. At this price, the bonds yield 7.4 percent. What must the coupon rate be on the bonds? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Coupon rate %