Question: Problem 8-4 Coupon Rates Rhiannon Corporation has bonds on the market with 19.5 years to maturity, a YTM of 8 percent, a par value of

Problem 8-4 Coupon Rates Rhiannon Corporation has bonds on the market

Problem 8-4 Coupon Rates Rhiannon Corporation has bonds on the market with 19.5 years to maturity, a YTM of 8 percent, a par value of $1,000, and a current price of $1,069. The bonds make semiannual payments. What must the coupon rate be on these 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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