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The current price of a 20-year, $1,000 par value bond is $1,158.91. Interest on this bond is paid every six months, and the current yield
The current price of a 20-year, $1,000 par value bond is $1,158.91. Interest on this bond is paid every six months, and the current yield to maturity on this bond 13.4 percent. Given these facts, what is the annual coupon rate on this bond?
Please show how I can solve this through excel or any other way.
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