What must coupon rate be on the bonds

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Reference no: EM131507982

Volbeat Corporation has bonds on the market with 19.5 years to maturity, a YTM of 11.2 percent, a par value of $1,000, and a current price of $936. The bonds make semiannual payments.

What must the coupon rate be on the 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: EM131507982

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