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Based on the formula derived in the slides on corporate securities, what is the appropriate coupon for a corporate bond with an 7% probability of

Based on the formula derived in the slides on corporate securities, what is the appropriate coupon for a corporate bond with an 7% probability of default and a 40% expected recovery rate. Assume the risk-free rate is 5%. (If your answer is 5.25%, enter 5.25 .)

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