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Maxcorp's bonds sell for $1,223.64. The bond life is 9 years, and the yield to maturity is 8.8%. What is the coupon rate on the

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Maxcorp's bonds sell for $1,223.64. The bond life is 9 years, and the yield to maturity is 8.8%. What is the coupon rate on the bonds? (Assume a face value of $1,000 and annual coupon payments.) (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Coupon rate

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