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Assume a par value of $1,000.00. A firm plans to issue a 13-year, annual payment bond that has a price of $1,041.07. If the yield

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Assume a par value of $1,000.00. A firm plans to issue a 13-year, annual payment bond that has a price of $1,041.07. If the yield to maturity for the bond is 8.50% p.a., what will the coupon rate of the bond be? 1) 5.00% 2) 9.03% 3) 7.97% 4) 6.85% 5) None of the given answers for this question are within 0.05 points of the correct answer. 6) 8.18%

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