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Kiss the Sky Enterprises has bonds on the market making annual payments, with 7 years to maturity, and selling for $960. At this price, the

Kiss the Sky Enterprises has bonds on the market making annual payments, with 7 years to maturity, and selling for $960. At this price, the bonds yield 9.7 percent. What must the coupon rate be on the bonds?

A. 8.89%

B. 9.26%

C. 17.77%

D. 8.99%

E. 9.70%

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