Question: Maxcorp's bonds sell for $ 1 , 1 5 2 . 9 8 . The bond life is 9 years, and the yield to maturity

Maxcorp's bonds sell for $1,152.98. The bond life is 9 years, and the yield to maturity is 8.5%. What is the coupon rate on the bonds?
(Assume a face value of $1,000 and annual coupon payments.)
Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.
Maxcorp's bonds sell for $1,152.98. The bond life is 9 years,

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