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9. Merton Enterprises has bonds on the market making annual payments, with 12 years to maturity, and selling for $1,075. At this price, the
9. Merton Enterprises has bonds on the market making annual payments, with 12 years to maturity, and selling for $1,075. At this price, the bonds yield to maturity is 6.0 percent. What must be the coupon rate on Merton's bonds? (Face Value =$1000)
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Financial Accounting
Authors: Walter Harrison, Charles Horngren, William Thomas
10th edition
133796833, 133427536, 9780133796834, 978-0133427530
