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Ashes Divide Corporation has bonds on the market with 16 years to maturity, a YTM of 8.4 percent, and a current price of $1,276.50. The

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Ashes Divide Corporation has bonds on the market with 16 years to maturity, a YTM of 8.4 percent, and a current price of $1,276.50. The bonds make semiannual payments. What must the coupon rate be on these bonds? (Do not round your intermediate calculations.) Multiple Choice 18.18% 11.67% 23.21% 11.57% 9.07%

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