Smith Corp. bonds were issued 25 years ago. These bonds have a 15% required rate of return,
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Question:
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).
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