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The current required rate of return on a bond issued by Who LTD is 11 percent. ;Who has a bond issue outstanding that pays interest

The current required rate of return on a bond issued by Who LTD is 11 percent. ;Who has a bond issue outstanding that pays interest semiannually, is selling for $845 and matures in 8 years. What is the approximate coupon rate on the outstanding bond?

a.

4.00%
b.

8.00%
c.

6.05%
d.

10.68%

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