Dma corporation has bonds on the market with 175 years to, Ask an Expert

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DMA Corporation has bonds on the market with 17.5 years to maturity, a YTM of 7.8 percent, and a current price of $1,066. The bonds make semiannual payments and have a par value of $1,000. What must the coupon rate be on these bonds? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Coupon rate %

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