What must the coupon rate be on bonds

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Reference no: EM131070880

Rhiannon Corporation has bonds on the market with 21.5 years to maturity, a YTM of 6.80 percent, and a current price of $1,045. The bonds make semiannual payments. What must the coupon rate be on these bonds? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))

Reference no: EM131070880

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