What must the coupon rate be on the company bonds

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Reference no: EM131330022

Ghost Rider Corporation has bonds on the market with 12 years to maturity, a YTM of 5.9 percent, and a current price of $920. What must the coupon rate be on the company’s bonds? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Omit the "%" sign in your response.)

Reference no: EM131330022

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