ANSWER IN BOLD 20

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McConnell Corporation has bonds on the market with 11 years to maturity, a YTM of 7.6 percent, a par value of $1,000, and a current price of $1,216.50. The bonds make semiannual payments. What must the coupon rate be on these bonds? You want to have $2.5 million in real dollars in an account when you retire in 30 years. The nominal return on your investment is 12 percent and the inflation rate is 4 percent. What real amount must you deposit each year to achieve your goal