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Suppose a 8-year risk-free bond with a face value of $1,000 is trading for a price of $1,345. The bond pays coupons quarterly. If the

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Suppose a 8-year risk-free bond with a face value of $1,000 is trading for a price of $1,345. The bond pays coupons quarterly. If the bond's yield to maturity is 12% APR, what is the coupon rate? (Hint: use the shortcut formula for an annuity.)

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