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Merton Enterprises has bonds on the market making annual payments, with 14 years to maturity, and selling for 949.09 euros. At this price, the bonds

Merton Enterprises has bonds on the market making annual payments, with 14 years to maturity, and selling for 949.09 euros. At this price, the bonds yield 7,5%. What must the coupon rate be on the Merton's bonds?

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