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S co. has bonds on the market with 13.5 years to maturity, a YTM of 8.77%, a par value of 1000, and a current price

S co. has bonds on the market with 13.5 years to maturity, a YTM of 8.77%, a par value of 1000, and a current price of $1078.56. The bonds make semiannual payments, what is the coupon rate on the bonds?

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