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MBA Corp. plans to issue 2 0 - year bonds paying semiannual coupons. The yield to maturity on other similar bonds is 9 % .

MBA Corp. plans to issue

20 -

year bonds paying semiannual coupons. The yield to maturity on other similar bonds is

9 % .

If MBA Corp. wants to sell the bonds at $

1, 100

a pice, what should be the coupon rate?

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