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Volbeat Corporation has bonds on the market with 30 years to maturity, a YTM of 6.2%, and a current price of $924. The bonds make

Volbeat Corporation has bonds on the market with 30 years to maturity, a YTM of 6.2%, and a current price of $924. The bonds make semiannual payments. What must the annual coupon rate be on the bonds?

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