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Newport Industries issued ten-year, $100,000 bonds paying semi-annual interest. When the annual market interest rate was 12%, the bonds were sold for $71,325. Assuming the

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Newport Industries issued ten-year, $100,000 bonds paying semi-annual interest. When the annual market interest rate was 12%, the bonds were sold for $71,325. Assuming the bonds were priced correctly, what is the annual stated interest rate on the bonds

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