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Magnum Mechanicals has a 17-year, semiannual coupon bond that sells for $948.63. What is the bond's coupon rate if it has a par value of
Magnum Mechanicals has a 17-year, semiannual coupon bond that sells for $948.63. What is the bond's coupon rate if it has a par value of $1,000 and a yield to maturity of 7.11 percent.
Multiple Choice
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3.29%
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6.26%
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6.58%
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5.93%
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4.94%
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