O'Brien Ltd.'s outstanding bonds have a $1,000 par value, and they mature in 20 years. Their nominal annual, not semiannual yield to maturity is 7.75%, they pay interest semiannually, and they sell at a price of $700. What is the bond's nominal coupon interest rate? Do not round your intermediate calculations.   a. 4.77%     b. 2.39%     c. 2.30%     d. 4.41%     e. 4.60%

Essentials Of Investments
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Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
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O'Brien Ltd.'s outstanding bonds have a $1,000 par value, and they mature in 20 years. Their nominal annual, not semiannual yield to maturity is 7.75%, they pay interest semiannually, and they sell at a price of $700. What is the bond's nominal coupon interest rate? Do not round your intermediate calculations.
  a. 4.77%  
  b. 2.39%  
  c. 2.30%  
  d. 4.41%  
  e. 4.60%  
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