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McConnell Corporation has bonds on the market with 12 years to maturity, a YTM of 10.0 percent, a par value of $1,000, and a current

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McConnell Corporation has bonds on the market with 12 years to maturity, a YTM of 10.0 percent, a par value of $1,000, and a current price of $1,216.50. The bonds make semiannual payments. What must the coupon rate be on these bonds? Multiple Choice 21.66% 13.24% 13.14\%

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