A Firm Issues $200 Million in Ten-Year Bonds with an Annual

A firm issues $200 million in ten-year bonds with an annual coupon rate of 6%.The firm makes a final payment of $68 million on the tenth and final coupon date.If the firm uses a sinking fund to repurchase some of the bond issue on each coupon payment date,what percentage of the issue must they repurchase each year?

A) 10%
B) 7.2%
C) 7.33%
D) 6%
E) 8%