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The Exley Company bonds are currently selling for $1,041.30. This is a 50-year bond issued 17 years ago, which pays semi-annual interest. Other bonds in

The Exley Company bonds are currently selling for $1,041.30. This is a 50-year bond issued 17 years ago, which pays semi-annual interest. Other bonds in the market similar to Exley Company's bond pay a market interest rate of 7.75%. What is the coupon rate? SHOW ALL CALCULATIONS

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