Question: Ross Assignment Chapter 6 i 3 8.33 points eBook Print References Saved Big Canyon Enterprises has bonds on the market making annual payments, with 16

Ross Assignment Chapter 6 i 3 8.33 points eBook Print References

Ross Assignment Chapter 6 i 3 8.33 points eBook Print References Saved Big Canyon Enterprises has bonds on the market making annual payments, with 16 years to maturity, a par value of $1,000, and a price of $957. At this price, the bonds yield 9 percent. What must the coupon rate be on the bonds? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Coupon rate %

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