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McConnell Corporation has bonds on the market with 18 years to maturity, a YTM of 11.0 percent, a par value of $1,000, and a current

McConnell Corporation has bonds on the market with 18 years to maturity, a YTM of 11.0 percent, a par value of $1,000, and a current price of $1,176.50. The bonds make semiannual payments. What must the coupon rate be on these bonds? Multiple Choice 22.60% 13.37% 13.27% 26.58% 11.28%

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