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The bonds issued by Audio Fanatics, Inc. mature in 16 years and have a face value of $1,000. The bonds are currently priced at $1,080.42

The bonds issued by Audio Fanatics, Inc. mature in 16 years and have a face value of $1,000. The bonds are currently priced at $1,080.42 with a yield to maturity of 9.1%. Assuming interest is payable semiannually, what is the coupon rate on these bonds

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