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7. p. 498, Problem P11.6 (2 Points) P11.6 A $1,000 par value bond that has a current price of $950 and a maturity value

7. p. 498, Problem P11.6 (2 Points) P11.6 A $1,000 par value bond that has a current price of $950 and a maturity value of $1,000 matures in three years. If interest is paid annually and the bond is priced to yield 9%, what is the bond's annual coupon rate?

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