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Chapter 06-Interest Rates and Bond Valuation Big Canyon Enterprises has bonds on the market making...

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Chapter 06-Interest Rates and Bond Valuation Big Canyon Enterprises has bonds on the market making annual payments, with 17 years to maturity, a par value of $1,000, and a price of $956. At this price, the bonds yield 91 percent 9 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.) Skipped Coupon rate

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