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A bond is issued with a face value of $1,000,000 and is dated January 1, 2015. The stated interest rate is 8.5% and the market

A bond is issued with a face value of $1,000,000 and is dated January 1, 2015. The stated interest rate is 8.5% and the market rate is 6.2%. Interest is paid on March 31, June 30, September 30, and December 31.

What is the coupon payment?

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