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Michael has a bond that is currently selling for $1,190. It has a face value of $1000 and matures in 6 years. If the yield

Michael has a bond that is currently selling for $1,190. It has a face value of $1000 and matures in 6 years. If the yield to maturity is 3% and the coupons are paid semi-annually, what is the coupon rate?

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