What must be coupon rate on bonds-yield to maturity

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Reference no: EM13917371

Large Industries bonds sell for $1,022.38. The bond life is 12 years, and the yield to maturity is 8.2%. What must be the coupon rate on the bonds? Assume coupons are paid once a year and the face value is $1,000. (Do not round intermediate calculations. Enter your response as a percentage rounded to one decimal place.)

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Reference no: EM13917371

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