O'Brien Ltd $.\text{'}$ s outstanding bonds have a $ $1,000$par value, and they mature in $25$years$.$ Their nominal yield to maturity is $9.25\%,$they pay interest semiannually, and they sell at a price of $ $850.$What is the bond's nominal $($ annual $)$coupon interest rate?ne explain the formula?

I've seen it's answer as FV$($Bond$\text{'}$s par value$)=$ $$1,000$

N$=25\backslash$times $2=50$ periods $($since it's semi$-$annual$)$

i$/$y$=9\mathrm{.}25/2=4\mathrm{.}63$

PV$=-850$

PMT$=?$

PMT$=38\mathrm{.}55$

Annual coupon Payement $=38\mathrm{.}55$x$2=77\mathrm{.}10$

any one explain!