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Moses Inc.'s outstanding bonds have a $1,000 par value, and a maturity of 5 years. Their yield to maturity is 8%, based on semiannual compounding,

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Moses Inc.'s outstanding bonds have a $1,000 par value, and a maturity of 5 years. Their yield to maturity is 8%, based on semiannual compounding, and the current market price is $855. What is the bond's annual coupon interest rate? (Hint: compute the annual coupon payment (PMT) and divide that by 1000). 4.00% 2.21% 5.30% 4.42%

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