(Answered) Target wants to sell some 25-year 1000 par value bonds with

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Target wants to sell some 25-year, $1,000 par value bonds with coupon interest paid annually. Each bond has 45 warrants attached to it. The yield of the firm's bonds with no warrants is 16%. The market value of each warrant is $3.00. If Target wants to sell the bonds with warrant at par, what should be the annual coupon rate?

11.72%
12.68%
13.79%
14.88%
15.17%
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