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Draiman Corporation has bonds on the market with 1 1 years to maturity, a YTM of 9 . 5 percent, a par value of $

Draiman Corporation has bonds on the market with

11

years to

maturity, a YTM of

9.5

percent, a par value of $

1, 000,

and a

current price of $

946 .

The bonds make semiannual payments. What

must the coupon rate be on the bonds?

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