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Wang Ltd's outstanding semiannual coupon bonds have a $1,000 par value, and they mature in 4 years. Their yield to maturity is 7%, based on

Wang Ltd's outstanding semiannual coupon bonds have a $1,000 par value, and they mature in 4 years. Their yield to maturity is 7%, based on semiannual compounding, and the current market price is $853.61. What is the bond's annual coupon rate

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