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You just purchased an IBM bond. The bond was priced at $1, 180 and pays out coupons semi-annually. The yield to maturity is 7%. The

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You just purchased an IBM bond. The bond was priced at $1, 180 and pays out coupons semi-annually. The yield to maturity is 7%. The bond is a 25 year bond and has 13 years left to maturity. What is the coupon payment on this bond? What is the coupon rate? Coupon Payment: _______ Coupon Rate: _____

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