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Corp has bonds on the market with 18.5yrs maturity, a YTM% of11, and a price=$938....

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Finance

Corp has bonds on the market with 18.5yrs maturity, a YTM% of11, and a price=$938. The bonds make semiannual payments.

Required:

What's the coupon rate? Hint: Solve for the semiannual payment. Multiply it by 2 to make it annual. Divide the result by the face value to get the percentage coupon rate. (Do not round intermediate calculations. Round your whole percentage to 2 decimal places (e.g., 8.16).)

Coupon rate %

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