What must the coupon rate be on the


Volbeat Corporation has bonds on the market with 18 years to maturity, a YTM of 10.9 percent, a par value of $1,000, and a current price of $939. The bonds make semiannual payments.

What must the coupon rate be on the bonds?

Coupon rate             %

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Financial Management: What must the coupon rate be on the
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