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Stevie Steel, has a 1 4 - year semiannual coupon bond that sells for $ 9 1 1 . 9 2 . The bond has

Stevie Steel, has a 14-year semiannual coupon bond that sells for $911.92. The bond has a par value of $1,000 and a YTM of 8.84 percent. What is the bond's annual coupon rate? Give the answer in percentage and please round to two decimal places. Thank you!

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