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Kiss the Sky Enterprises has bonds on the market making annual payments, with 9 years...

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Accounting

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Kiss the Sky Enterprises has bonds on the market making annual payments, with 9 years to maturity, and selling for $900. At this price, the bonds yield 8.4 percent. What must the coupon rate be on the bonds? (Note: first find the coupon payment, then the coupon rate. The face value of $1,000 x coupon rate = coupon payment)

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