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A fixed Coupon Bond currently has a price of $1,100 and a yield of 6%. All else being equal, you know if the SAME bond

A fixed Coupon Bond currently has a price of $1,100 and a yield of 6%. All else being equal, you know if the SAME bond were to have a yield of 8%, its price would be $900. The coupon rate of this bond _____________.

a. must be greater than 8%

b. must be less than 6%

c. must be between 6% and 8%

d. not enough information to say

e. must be 7%

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