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BRYC Inc. has 40,000 outstanding bonds on the market with 13 years to maturity, offering a yield-to-maturity of 9.2 percent, and are currently priced below
BRYC Inc. has 40,000 outstanding bonds on the market with 13 years to maturity,
offering a yield-to-maturity of 9.2 percent, and are currently priced below par at $895.09.
The bonds make semiannual coupon payments. What is the annual coupon rate?
a.
7.80%
b.
8.25%
c.
8.40%
d.
8.65%
e.
8.00%
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