Question $22(1$ point$)$

After successfully completing $Fl3300,$ Rachael is considering buying some bonds to

add to her recently started retirement account. She is looking at a bond issued by

ABC that pays coupon interest semi$-$annually, has $13$ years remaining to maturity,

and has a yield$-$to$-$maturity is $9\mathrm{.}20\%.$ If the market price of the bond is $$4,250\mathrm{.}63$

then bond's coupon rate must be

$\%.$ Assume a $$5,000$ par value.

$7\mathrm{.}40$

$7\mathrm{.}20$

$7\mathrm{.}30$

$7\mathrm{.}50$

$7\mathrm{.}60$