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Gabriele Enterprises has bonds on the market making annual payments, with 13 years to maturity, a par value of $1,000, and selling for $930. At

Gabriele Enterprises has bonds on the market making annual payments, with 13 years to maturity, a par value of $1,000, and selling for $930. At this price, the bonds yield 7.9 percent. What must the coupon rate be on the bonds?

  • 7.02%

  • 7.12%

  • 7.90%

  • 14.04%

  • 7.55%

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