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Ponzi Corporation has bonds on the market with 14.5 years to maturity, a YTM of 6.1 percent, and a current price of $1,038. The bonds

Ponzi Corporation has bonds on the market with 14.5 years to maturity, a YTM of 6.1 percent, and a current price of $1,038. The bonds make semiannual payments.

What must the coupon rate be on these bonds? (Round your answer to 2 decimal places. (e.g., 32.16))

Coupon rate = ?

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