What must the coupon rate be on the company bonds

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Reference no: EM131544553

Ghost Rider Corporation has bonds on the market with 8 years to maturity, a YTM of 5 percent, and a current price of $945. 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.) Coupon rate 4.21 %

Reference no: EM131544553

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