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A corporate bond with a face value of $1,000 and coupons paid semi-annually, sells for $1,058.39. The term to maturity is 14.5 years. If the

A corporate bond with a face value of $1,000 and coupons paid semi-annually, sells for $1,058.39. The term to maturity is 14.5 years. If the yield to maturity of similar bonds is 9.5%, what is the coupon rate of this bond? (2 marks)

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