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A bond has a $ 1 , 0 0 0 face value, a market price of $ 1 , 0 4 5 , and pays

A bond has a $1,000 face value, a market price of $1,045, and pays interest payments of $74.50 every year. What is the coupon rate?
A.8.14 percent
B.7.12 percent
C.7.45 percent
D.7.00 percent

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