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A company is trying to decide how much coupon to pay for the bonds its planning to issue. The bonds would pay coupons semi-annually and

A company is trying to decide how much coupon to pay for the bonds its planning to issue. The bonds would pay coupons semi-annually and have a maturity of 10 years. The face value of the bonds would be $1,000. The management believes that the market would be satisfied with a price of $1,135.90, which implies an 8% yield-to-maturity. What is the coupon rate for these bonds?

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