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City Wok Inc. bonds trade for a price of $89.490. The bonds have 8 years to maturity and a yield to maturity of 4.6%. The

City Wok Inc. bonds trade for a price of $89.490. The bonds have 8 years to maturity and a yield to maturity of 4.6%. The bonds pay annual coupons (the next coupon is due in one year) and the face value is $100. What is the coupon rate of the bond?

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