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Home Furnish has bonds on the market with 13 years to maturity, a yield to maturity of 8.5%, and a current price of $1272.23. The

Home Furnish has bonds on the market with 13 years to maturity, a yield to maturity of 8.5%, and a current price of $1272.23. The bonds make semi-annual payments. What must be the annual coupon rate on Home Furnishs bonds? (Assume Face value of the bond = $1,000) USE AT LEAST 4 DECIMAL PLACES

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