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Woolworths Ltd has issued semi-annual coupon bonds. The bonds are currently trading at a price of $87.12 in the market. They are priced at a

Woolworths Ltd has issued semi-annual coupon bonds. The bonds are currently trading at a price of $87.12 in the market. They are priced at a yield to maturity of 12% p.a. compounded semi-annually. These bonds have a face value of $100 and mature in 5 years' time. 


What is this bond's nominal annual coupon rate?

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