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AB Builders, Inc., has 24-year bonds outstanding with a par value of $2,000 and a...

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Accounting

AB Builders, Inc., has 24-year bonds outstanding with a par value of $2,000 and a quoted price of 97.842. The bonds pay interest semiannually and have a yield to maturity of 6.80 percent. What is the coupon rate?

  1. 9.92%
  2. 5.95%
  3. 6.62%
  4. 13.23%
  5. 6.29%

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