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

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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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