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Metal Fabricators just issued $1,000 par 20-year non- callable bonds. The bonds sold for $758.18 and pay interest semi-annually. Investors require a rate of 9%

Metal Fabricators just issued $1,000 par 20-year non- callable bonds. The bonds sold for $758.18 and pay interest semi-annually. Investors require a rate of 9% on the bonds. What is the bonds' coupon rate?

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