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What must the coupon rate be on these bonds

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Reference no: EM131238278

DMA Corporation has bonds on the market with 17.5 years to maturity, a YTM of 6.4 percent, and a current price of $1,037. The bonds make semiannual payments and have a par value of $1,000.

What must the coupon rate be on these bonds?

Reference no: EM131238278

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