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XYZ Co has bonds on the market with 12 years to maturity, a YTM of 8 percent, and a current price of $1,080. The bonds

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XYZ Co has bonds on the market with 12 years to maturity, a YTM of 8 percent, and a current price of $1,080. The bonds make semi-annual payments. What must the coupon rate be on these bonds? Round to two decimals and do not include symbols in your answer. (Ex. your answer is 11.12% put 11.12 in answer box)

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