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Ghost Rider Corporation has bonds on the market with 19 years to maturity, a YTM of 6.4 percent, and a current price of $934. What

Ghost Rider Corporation has bonds on the market with 19 years to maturity, a YTM of 6.4 percent, and a current price of $934. What must the percentage coupon rate be on the companys bonds? Note: Corporate bonds pay semi-annual coupons.

(Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)

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