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ABC Enterprises has bonds on the market making annual payments, with 20 years to maturity, and selling for $850. At this price, the yield to

ABC Enterprises has bonds on the market making annual payments, with 20 years to maturity, and selling for $850. At this price, the yield to maturity is 3.5%. What must the coupon rate % ? (Do not round intermediate calculations. Round the final answer to 2 decimal places.) (Omit % sign in your response.)

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