Question: Can you help me solve the problem? DMA Corporation has bonds on the market with 10.5 years to maturity, a YTM of 7.1 percent, and

Can you help me solve the problem? DMA Corporation has bonds

Can you help me solve the problem?

DMA Corporation has bonds on the market with 10.5 years to maturity, a YTM of 7.1 percent, and a current price of $1,051. 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.)

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