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NT Gabriele Enterprises has bonds on the market making annual payments, with 19 years to maturity, a par value of $1,000, and selling for $940.

NT Gabriele Enterprises has bonds on the market making annual payments, with 19 years to maturity, a par value of $1,000, and selling for $940. At this price, the bonds yield 6.3 percent. What must the coupon rate be on the bonds? Multiple Choice

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