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Kaiser Industries has bonds on the market making annual payments, with 16 years to maturity, a par value of $1,000, and a current price of
Kaiser Industries has bonds on the market making annual payments, with 16 years to maturity, a par value of $1,000, and a current price of $1,136.5. At this price, the bonds yield 7.5 percent. What is the coupon rate? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
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