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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 had a yield of 8%, its price would be $900. The coupon rate of the bond ________________.

Must be between 6% and 8%

Must be greater than 8%

Must be less than 6%

No enough information to say

Must be 7%

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