What must the coupon rate be on the bonds

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Reference no: EM131310928

Volbeat Corporation has bonds on the market with 19 years to maturity, a YTM of 11.1 percent, a par value of $1,000, and a current price of $937. The bonds make semiannual payments. What must the coupon rate be on the bonds?

Reference no: EM131310928

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