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Metal fabricators just issued 1000 par 20-year bonds the

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Metal Fabricators just issued $1,000 par 20-year bonds. The bonds sold for $758.18 and pay interest semi-annually. Investors require a rate of 9% on the bonds. What is the bonds' coupon rate?

  • 6%
  • 7%
  • 8%
  • 9%

Reference no: EM13567413

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