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Buckley Ltd.'s outstanding bonds have a $1,000 par value, and they mature in 15 years. Their nominal annual yield to maturity is 8.0%, they pay

Buckley Ltd.'s outstanding bonds have a $1,000 par value, and they mature in 15 years. Their nominal annual yield to maturity is 8.0%, they pay interest semiannually, and they sell at a price of $827.50. What is the bond's nominal coupon rate?

a. 2.30%

b. 3.00%

c. 4.20%

d. 5.45%

e. 6.00%

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