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O'Brien Ltd.'s outstanding bonds have a $1,000 par value, and they mature in 25 years. Their nominal annual yield to maturity is 9.25%, they pay

O'Brien Ltd.'s outstanding bonds have a $1,000 par value, and they mature in 25 years.

Their nominal annual yield to maturity is 9.25%, they pay interest semiannually, and they sell at a price of $900. What is the bond's nominal coupon interest rate?

A. 9.78%

B. 8.55%

C. 8.22%

D. 8.71%

E. 6.74%

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