What is the coupon rate on the bonds

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Reference no: EM13872026

Maxcorp’s bonds sell for $1,264.57. The bond life is 9 years, and the yield to maturity is 7.8%. What is the coupon rate on the bonds? (Assume a face value of $1,000 and annual coupon payments) (Do not round intermediate calculations. Enter your answer as a percent rounded to 1 decimal place.)

Reference no: EM13872026

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