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Wright Publishing Co. has bonds on the market making annual payments with 15 years to maturity, a par value of 51000 and a poco $959.
Wright Publishing Co. has bonds on the market making annual payments with 15 years to maturity, a par value of 51000 and a poco $959. At this price, the bonds yield 8.8 percent. What must the coupon rate be on the bonds? (Do not round Intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Coupon rate
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