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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

3.29%
6.26%
6.58%
5.93%
4.94%

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