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A bond has yield to maturity of 7.65 percent; face value of $1,000; time to maturity of 16 years and pays coupons semiannually. If the

A bond has yield to maturity of 7.65 percent; face value of $1,000; time to maturity of 16 years and pays coupons semiannually. If the price of the bond is $1,101.42, calculate the coupon rate of the bond.

Group of answer choices

8.76%

7.84%

7.44%

9.04%

6.54%

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