Merton enterprises has bonds on the market making annual, Financial Management

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Merton enterprises has bonds on the market making annual

Merton Enterprises has bonds on the market making annual payments, with 16 years to maturity, and selling for $957. At this price, the bonds yield 9 percent. Required: What must the coupon rate be on Merton’s bonds? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16). )

Coupon rate %

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Financial Management: Merton enterprises has bonds on the market making annual

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