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The 6-months zero rate is 8% per annum with semi-annual compounding. Currently, a one-year bond with a 10% per annum coupon is trading at 96,

The 6-months zero rate is 8% per annum with semi-annual compounding. Currently, a one-year bond with a 10% per annum coupon is trading at 96, with a par value of 100. The coupon is paid semi-annually.

Determine the one-year zero rate in terms of semi-annual compounding.

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