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Johns & Johns Inc. just issued a 5 - year, semi - annual coupon bond at a price of $ 1 , 2 3 2

Johns & Johns Inc. just issued a

5 -

year, semi

-

annual coupon bond at a price of $

1, 232.58 .

The par value of the bond is $

1, 000,

and the YTM is

3 %

.

.

How much is the annual coupon rate?

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