Question: 1. value points 2.66 Problem 6-5 Coupon Rates [LO 2] Barnes Enterprises has bonds on the market making annual payments, with 15 years to maturity,

1. value points 2.66 Problem 6-5 Coupon Rates [LO 2] Barnes Enterprises has bonds on the market making annual payments, with 15 years

1. value points 2.66 Problem 6-5 Coupon Rates [LO 2] Barnes Enterprises has bonds on the market making annual payments, with 15 years to maturity, a par value of $1,000, and a price of $959. At this price, the bonds yield 8.8 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

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