The bond pays annual coupons and the next coupon is due in, Financial Management

The bond pays annual coupons and the next coupon is due in

Beam Inc. bonds are trading today for a price of $170.91. The bond currently has 22 years until maturity and has a yield to maturity of 6.96%. The bond pays annual coupons and the next coupon is due in one year. What is the coupon rate of the bond?

The coupon rate of the bond is ______%. (Round to one decimal place.)

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Financial Management: The bond pays annual coupons and the next coupon is due in

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Financial Management: The bond pays annual coupons and the next coupon is due in

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