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General Matter's outstanding bond issue has a coupon rate of 7% and a current yield of 76%, and it sells at a yield to maturity

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General Matter's outstanding bond issue has a coupon rate of 7% and a current yield of 76%, and it sells at a yield to maturity of 9 25%. The firm wishes to issue additional bonds to the publicat par value What coupon rate must the new bonds offer in order to sell at par? (Round your answer to 2 decimal places.) Coupon rate A bond with par value of $1,000 and a coupon rate of 8% is selling at a price of $970. The bond's yield to maturity is more than 8% The bond's current yield is more than 8%

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