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Problem 6-8 Coupon Rate (LO2) General Matter's outstanding bond issue has a coupon rate of 9.8%, and it sells at a yleid to maturity of

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Problem 6-8 Coupon Rate (LO2) General Matter's outstanding bond issue has a coupon rate of 9.8%, and it sells at a yleid to maturity of 8.20%. The firm wishes to issue additional bonds to the public. What coupon rate must the new bonds offer in order to sell at face value? Note: Enter your answer as a percent rounded to 2 decimal places

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