(Solution) - Ashes Divide Corporation has bonds on the market with 14 5 -(2025 Original AI-Free Solution)

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Academic Level: Undergrad. (yrs 3-4)

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Ashes Divide Corporation has bonds on the market with 14.5 years to maturity, a YTM of 6.8 percent, and a current price of $924. The bonds make semiannual payments. The coupon rate on these bonds must be _____ percent. (Do not include the percent sign (%). Round your answer to 2 decimal places. (e.g., 32.16))