What must the coupon rate be on these


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 %

Request for Solution File

Ask an Expert for Answer!!
Financial Management: What must the coupon rate be on these
Reference No:- TGS02796500

Expected delivery within 24 Hours