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Sunlane Incorporation has bonds with 12 years to maturity, a par value of $1,000, a YTM of 8 percent, and a current price of 847.53.

Sunlane Incorporation has bonds with 12 years to maturity, a par value of $1,000, a YTM of 8 percent, and a current price of 847.53. The bonds make semiannual payments. What must be the coupon rate on these bonds?

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