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A 20-year bond, $1,000 face value bond pays an 9% annual coupon and a yield to maturity of 8%. The bond is selling at $1196.36.
A 20-year bond, $1,000 face value bond pays an 9% annual coupon and a yield to maturity of 8%. The bond is selling at $1196.36. How much is the annual coupon?
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Contemporary Financial Management
Authors: R. Charles Moyer, William J. Kretlow, James R. Mcguigan
8th Edition
0324065914, 9780324065916
