[Solved] Ponzi Corporation has bonds on the market

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Ponzi Corporation has bonds on the market with 20.5 years to maturity, a YTM of 6.70 percent, and a current price of $1,044. The bonds

Ponzi Corporation has bonds on the market with 20.5 years to maturity, a YTM of 6.70 percent, and a current price of $1,044. The bonds make semiannual payments. What must the coupon rate be on these bonds?

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