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McConnell Corporation has bonds on the market with 11 years to maturity, a YTM of 7.4 percent, a par value of $1,000, and a current

McConnell Corporation has bonds on the market with 11 years to maturity, a YTM of 7.4 percent, a par value of $1,000, and a current price of $1,196.50. The bonds make semiannual payments. What must the coupon rate be on these bonds?

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