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ABC Inc. just issued today a twenty-year semi-annual coupon bond at a price of $787.39. The face value of the bond is $1,000, and the

ABC Inc. just issued today a twenty-year semi-annual coupon bond at a price of $787.39. The face value of the bond is $1,000, and the YTM is 9%. What is the annual coupon rate (final answer: in percent, to 2 decimal places)?

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