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*PLEASE SHOW WORK WITHOUT USING EXCEL* The bond of Kenneth Corp. is currently trading at (price of a bond) $700.00. The bond matures in 60
*PLEASE SHOW WORK WITHOUT USING EXCEL*
The bond of Kenneth Corp. is currently trading at (price of a bond) $700.00. The bond matures in 60 years and has, today, a yield to maturity (YTM) of 3%. This is a semiannual coupon bond with a par value of $1,000. What is the coupon rate of this bond?
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