The coupon rate is 4.37 %.
Explanation:
The current yield formula can be used to determine the coupon payment which would thereafter be used to compute coupon rate as required:
current yield = coupon payment/current market price
current yield=4.28%
coupon payment=unknown
current market price=102.311 % *$10,000
current market price=$102.311
4.28%=coupon payment /$ 102.311
coupon payment=$10231.1*4.28%
coupon payment=$437.89108
coupon rate=coupon payment/face value
coupon rate=$437.89108 /$10,000
coupon rate=4.37%
To know more about coupon rate visit :
brainly.com/question/16913107
#SPJ4
