Gabriele Enterprises has bonds on the market making annual payments, with ten years to maturity, a par value of $1,000, and selling for $968. At this price, the bonds yield 6.9 percent.

Gabriele Enterprises has bonds on the market making annual payments, with ten years to maturity, a par value of $1,000, and selling for $968. At this price, the bonds yield 6.9 percent.


What must the coupon rate be on the bonds?

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