What must be the coupon rate on these bonds

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Reference no: EM132072508

Rhiannon Corporation has bonds on the market with 16.5 years to maturity, a YTM of 6.3 percent, and a current price of $1,036.

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.) Coupon rate %

Reference no: EM132072508

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