Smith Corp. bonds were issued 25 years ago. These bonds have a 15% required rate of return, mature in 11 years, and have a current market value of $995.10. Find the coupon rate. Round intermediate steps and your final answer to four decimals. Enter your answer in decimal format (EX: .XXXX).

Answer rating: 100% (QA)

To find the coupon rate of Smith Corp bonds we can use the formula for the present value of a ... View the full answer