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Coupon rate on bonds-rhiannon corporation

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Reference no: EM132953011

Rhiannon Corporation has bonds on the market with 18.5 years to maturity, a YTM of 6.5 percent, a par value of $1,000, and a current price of $1,048. The bonds make semiannual payments.

What must the coupon rate be on these bonds? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Reference no: EM132953011

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