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A firm has an outstanding issue of $1,000 par value bonds due in 5 years, currently selling for $936.81. Investor's are earning 6.00%. What is

A firm has an outstanding issue of $1,000 par value bonds due in 5 years, currently selling for $936.81. Investor's are earning 6.00%. What is the annual coupon rate on these bonds?

Select one:

4.50%

6.00%

8.53%

5.00%

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