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AB Builders, Inc., has 17-year bonds outstanding with a par value of $2,000 and a quoted price of 94.863. The bonds pay interest semiannually and

AB Builders, Inc., has 17-year bonds outstanding with a par value of $2,000 and a quoted price of 94.863. The bonds pay interest semiannually and have a yield to maturity of 7.07 percent. What is the coupon rate

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