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Volbeat Corporation has bonds on the market with 19 years to maturity, a YTM of 11.1 percent, and a current price of $937. The bonds

Volbeat Corporation has bonds on the market with 19 years to maturity, a YTM of 11.1 percent, and a current price of $937. The bonds make semiannual payments. Required: What must the coupon rate be on the bonds?

Coupon rate %

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