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Kiss the Sky Enterprises has bonds on the market making annual payments, with 17 years to maturity, and selling for $820. At this price, the

Kiss the Sky Enterprises has bonds on the market making annual payments, with 17 years to maturity, and selling for $820. At this price, the bonds yield 9.8 percent. What must the coupon rate be on the bonds?

Multiple Choice

  • 7.68%

  • 9.25%

  • 9.80%

  • 15.17%

  • 7.58%

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