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The bonds of Spartan Scooters have a par value of $1000, a current market value of $1200, and make semiannual coupon payments of $30 each.
The bonds of Spartan Scooters have a par value of $1000, a current market value of $1200, and make semiannual coupon payments of $30 each. What is the coupon rate of these bonds?
Answer Choices:
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6.0%
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3.0%
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5.0%
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2.5%
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4.0%
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