What must be the coupon rate on bonds

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Reference no: EM131878163

Rhiannon Corporation has bonds on the market with 15.5 years to maturity, a YTM of 6.2 percent, and a current price of $1,039. The bonds make semiannual payments.

What must be the coupon rate 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: EM131878163

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