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Suppose Wolverine Steel Company wishes to issue a $100,000 bond with a maturity of 8 years to raise $81,110. The market requires a yield to
Suppose Wolverine Steel Company wishes to issue a $100,000 bond with a maturity of 8 years to raise $81,110. The market requires a yield to maturity (YTM) of 11.5% for this company's borrowing/debt. How much coupon will the company have to pay every six months?
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