What must the coupon rate be on these bonds

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Reference no: EM131311077

DMA Corporation has bonds on the market with 20.5 years to maturity, a YTM of 8.1 percent, and a current price of $1,074. The bonds make semiannual payments and have a par value of $1,000.

What must the coupon rate be on these bonds?

Reference no: EM131311077

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