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Kiss the Sky Enterprises has bonds on the market making annual payments, with 15 years to maturity, and selling for $780. At this price, the

Kiss the Sky Enterprises has bonds on the market making annual payments, with 15 years to maturity, and selling for $780. At this price, the bonds yield 9.3 percent. What must the coupon rate be on the bonds?

Multiple Choice

6.52%

8.36%

13.04%

9.30%

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