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Maxcorps bonds sell for $1,166.55. The bond life is 9 years, and the yield to maturity is 7.4%. What is the coupon rate on the

Maxcorps bonds sell for $1,166.55. The bond life is 9 years, and the yield to maturity is 7.4%. What is the coupon rate on the bonds? (Assume a face value of $1,000 and annual coupon payments.)

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