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Gabriele Enterprises has bonds on the market making annual payments, with 16 years to maturity, a par value of $1,000, and selling for $860. At

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Gabriele Enterprises has bonds on the market making annual payments, with 16 years to maturity, a par value of $1,000, and selling for $860. At this price, the bonds yield 7.5 percent. What must the coupon rate be on the bonds? Multiple Choice 7.50% O 6.07% 11.94% O O 6.94% O O 5.97%

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