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A companys outstanding bonds have a $1,000 par value, and they mature in 24 years. Their nominal yield to maturity is 9.25%, they pay interest
A companys outstanding bonds have a $1,000 par value, and they mature in 24 years. Their nominal yield to maturity is 9.25%, they pay interest semiannually, and they sell at a price of $985. What is the bond's nominal coupon rate?
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