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8. Volbeat Co. has bonds on the market with 10 years to maturity, a YTM of 6.5%, a par value of $1,000, and a current

8. Volbeat Co. has bonds on the market with 10 years to maturity, a YTM of 6.5%, a par value of $1,000, and a current price of $945. The bonds make semiannual payments. What must the annual coupon rate be on the bonds

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