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A fixed rate bond with a $1,000 par value and annual coupon payments of $35.00 is trading at $1,234. Calculate the bond's coupon rate. Note;

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A fixed rate bond with a $1,000 par value and annual coupon payments of $35.00 is trading at $1,234. Calculate the bond's coupon rate. Note; Enter the coupon rate in percentage rounded to the second digit after the decimal point. For example, if the calculated coupon rate is 0.04517 or 4.517%, enter it as: 4.52

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