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12 McConnell Corporation has bonds on the market with 13 years to maturity, a YTM of 11.0 percent, a par value of $1,000, and a

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12 McConnell Corporation has bonds on the market with 13 years to maturity, a YTM of 11.0 percent, a par value of $1,000, and a current price of $1,276.50. The bonds make semiannual payments. What must the coupon rate be on these bonds

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