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Q9: : Cranston Industries just issued $1,000 par 30-year bonds. The bonds sold for $1,107.20 and pay interest semi- annually. Investors require a rate of

Q9: : Cranston Industries just issued $1,000 par 30-year bonds. The bonds sold for $1,107.20 and pay interest semi- annually. Investors require a rate of 7.75% on the bonds. What is the bonds' coupon rate

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