Corduroy Inc. has bonds on the market with 11 years to maturity, a YTM of 9.4 percent, a
par value of $1,000, and a current price of $1,276.50. The bonds make semiannual
payments. What must the coupon rate be on these bonds? (Hint: You will first need to
find coupon amount.)
Multiple Choice
10.57%
13.59%
27.08%
13.49%
21.21%