Question $22$

$4$ pts

O'Brien Ltd$.\text{'}$s outstanding bonds have a $$1,000$ par value, and they mature in $25$ years. Their nominal yield to maturity is $8\%,$ they pay interest semiannually, and they sell at a price of $$850.$ What is the bond's nominal $($annual$)$ coupon interest rate?

$7\mathrm{.}70\%$

$7\mathrm{.}32\%$

$6\mathrm{.}95\%$

$6\mathrm{.}60\%$

$6\mathrm{.}27\%$