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Draiman Corporation has bonds on the market with 1 3 years to maturity, a YTM of 9 . 9 percent, a par value of $

Draiman Corporation has bonds on the market with

13

years to maturity, a YTM of

9.9

percent, a par value of $

1, 000,

and a current price of $

950 .

The bonds make semiannual payments. What must the coupon rate be on the bonds?

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