Kiss The Sky Enterprises Has Bonds On The Market Making Annual Payments With

Kiss the Sky Enterprises has bonds on the market making annual payments, with 13 years to maturity, and selling for $1,045. At this price, the bonds yield 7.5 percent. What must the coupon rate be on the bonds?

Kiss the Sky Enterprises has bonds on the market making annual payments, with 13 years to maturity, and selling for$1,045. At this price, the bonds yield 7.5 percent. What must the coupon rate be…