[Solved] A $1,000 par value bond has a current pri

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A $1,000 par value bond has a current price of $884.94 and a maturity value of $1,000 and matures in 6 years. If interest is

A $1,000 par value bond has a current price of $884.94 and a maturity value of $1,000 and matures in 6 years. If interest is paid semiannually and the bond is priced to yield 8%, what is the bond's annual coupon rate?

The bond's annual coupon rate is (blank) % ? *round to 2 decimal places*

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