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Gabriele Enterprises has bonds on the market making annual payments, with 19 years to maturity, a par value of $1,000, and selling for $970. At
Gabriele Enterprises has bonds on the market making annual payments, with 19 years to maturity, a par value of $1,000, and selling for $970. At this price, the bonds yield 11 percent. What must the coupon rate be on the bonds? |
Multiple Choice
A.21.23%
B.10.72%
C.11.00%
D.10.62%
E.10.95%
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