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Actto inc. has issued a $500 bond with 10 years to maturity. The company promises to make coupon payments of $10 every 3 months. What

Actto inc. has issued a $500 bond with 10 years to maturity. The company promises to make coupon payments of $10 every 3 months. What is the bond' coupon rate?

(Round off your answer to two decimal places. Do NOT PUT COMMAS, % or $. If your answer is 12.345, type 12.35)

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