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Amazon Inc. has bonds on the market with 1 5 years to maturity, a YTM of 1 1 . 0 percent, a par value of

Amazon Inc. has bonds on the market with

15

years to maturity, a YTM of

11.0

percent, a par value of $

1, 000,

and a current price of $

1, 286.50 .

The bonds make semiannual payments. What must the coupon rate be on these bonds?

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