Dma corporation has bonds on the market with 155 years to, Financial Management

Dma corporation has bonds on the market with 155 years to

DMA Corporation has bonds on the market with 15.5 years to maturity, a YTM of 7.6 percent, and a current price of $1,063. 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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Financial Management: Dma corporation has bonds on the market with 155 years to

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