Page Enterprises has bonds on the market making annual payments, with eight years to maturity, and selling for $988. At this price, the bonds yield 7.90 percent.
What must the coupon rate be on the bonds? (Round your answer to 2 decimal places. (e.g., 32.16))© BrainMass Inc. brainmass.com June 4, 2020, 4:12 am ad1c9bdddf
Solution depicts the steps to calculate the coupon rate in the given case.