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Nikita Enterprises has a bond on the market making annual payments, with eight years to maturity, a par value of $ 1 , 0 0

Nikita Enterprises has a bond on the market making annual payments, with eight years to maturity, a par value of $1,000, and selling it for $962. At this price the bonds yield is 5.1%. What must the coupon rate be on the bond?

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