Manuel bought a $100,000 bond with a 4% coupon for $92,300 when it had five years remaining

Question:

Manuel bought a $100,000 bond with a 4% for $92,300 when it had five years remaining to maturity. What was the prevailing market rate at the time Manuel purchased the bond? (Taken from CIFP course materials.)
Coupon
A coupon or coupon payment is the annual interest rate paid on a bond, expressed as a percentage of the face value and paid from issue date until maturity. Coupons are usually referred to in terms of the coupon rate (the sum of coupons paid in a...