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Gabriele Enterprises has bonds on the market making annual payments, with 18 years to maturity, a par value of $1,000, and selling for $870. At

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Gabriele Enterprises has bonds on the market making annual payments, with 18 years to maturity, a par value of $1,000, and selling for $870. At this price, the bonds yield 6.9 percent. What must the coupon rate be on the bonds? Multiple Choice 5.62% 6.90% 11.23% 5.72% 6.46%

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