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1. Richmond Corp. issued 20-year bonds three years ago which are currently trading at $928.16. An investor's required rate of return on similar debt is

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1. Richmond Corp. issued 20-year bonds three years ago which are currently trading at $928.16. An investor's required rate of return on similar debt is 12% and the coupon payments are paid semiannually. What is the original issue coupon rate for this bond? (4pts.)

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