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What is the coupon rate of an annual bond that has a yield to maturity...

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Question

Accounting

What is the coupon rate of an annual bond that has a yield to maturity of 8.5%, a current price of $942.32, a par value of $1,000 and matures in thirteen years?

A) 8.33%

B) 7.67%

C) 7.75%

D) 8.50%

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