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Find what must the coupon rate be on the bonds

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Reference no: EM132725783

Problem 1: Gabriele Enterprises has bonds on the market making annual payments, with 15 years to maturity, a par value of $1,000, and selling for $830. At this price, the bonds yield 9.4 percent. What must the coupon rate be on the bonds?

Multiple Choice

Option 1: 7.34%

Option 2: 8.72%

Option 3: 9.40%

Option 4: 7.24%

Option 5: 14.48%

Reference no: EM132725783

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