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botanica incorporation has bonds with 20 years of maturity, a face value of $1,000, a YTM of 8 percent, and a current price of 1,196.

botanica incorporation has bonds with 20 years of maturity, a face value of $1,000, a YTM of 8 percent, and a current price of 1,196. The bonds make annual payments. What must be the coupon rate on these bonds? (in percentages, use two decimal points)

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