Question: PGP Co. expects to issue a $1,000 face-value bond that matures in 8 years.The annual coupon rate is 9% and interest payments are expected to

PGP Co. expects to issue a $1,000 face-value bond that matures in 8 years.The annual coupon rate is 9% and interest payments are expected to be paid annually.Similar bonds are currently priced at 101.4% of face value.Given this information, what is the required return by bond holders?

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