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Barrel Industries has bonds on the market making annual payments, with 12 years to maturity, a par value of $1,000 and selling for $1,158.85. At

Barrel Industries has bonds on the market making annual payments, with 12 years to maturity, a par value of $1,000 and selling for $1,158.85. At this price the bonds have a YTM of 7%. What is the coupon rate on these bonds?

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