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AB Builders, Incorporated, has 1 8 - year bonds outstanding with a par value of $ 2 , 0 0 0 and a quoted price

AB Builders, Incorporated, has

18 -

year bonds outstanding with a par value of $

2, 000

and a quoted price of

95.194 .

The bonds pay interest semiannually and have a yield to maturity of

7.04

percent. What is the coupon rate?

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