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Devodita Corporation has bonds on the market with 18 years to maturity, a YTM of 12 percent, and a current price of 950. The bonds

Devodita Corporation has bonds on the market with 18 years to maturity, a YTM of 12 percent, and a current price of 950. The bonds make semiannual payments. What must the coupon rate be on Devodita bonds?

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