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Ch 5 Lydic Corporation has bonds on the market with 21.5 years to maturity, a YTM of 6.8 percent, a par value of $1,000, and

Ch 5

Lydic Corporation has bonds on the market with 21.5 years to maturity, a YTM of 6.8 percent, a par value of $1,000, and a current price of $1,045. The bonds make semiannual payments. What must the coupon rate be on these bonds?

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