ABC Company just issued a bond with a face value of $1,000. The coupons are pai…
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ABC Company just issued a bond with a face value of $1,000. The coupons are paid semi-annually and the bond matures in 7 years. If the bond is worth $894.55 today and is yielding 10%, what is the coupon rate?
Round your work to at least 6 decimal places and final answer to 2 decimal places.
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