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Required: Treasury bonds paying an 9.25% coupon rate with semiannual payments currently sell at par value. What coupon rate would they have to pay in

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Required: Treasury bonds paying an 9.25% coupon rate with semiannual payments currently sell at par value. What coupon rate would they have to pay in order to sell at par if they paid their coupons annually? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

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