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McConnell Corporation has bonds on the market with 16 years to maturity, a YTM of 8.0 percent, a par value of $1,000, and a current

McConnell Corporation has bonds on the market with 16 years to maturity, a YTM of 8.0 percent, a par value of $1,000, and a current price of $1,206.50. The bonds make semiannual payments. What must the coupon rate be on these bonds?

  • 20.67%

  • 8.55%

  • 10.31%

  • 10.41%

  • 17.13%

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