The E. Harris Company issued bonds in March of 2010. When issued, the bonds had 20 years to maturity, a coupon rate of 7.5% and sold for their face value of $1,000. Now, in March of 2020, the bond price has risen to $1,110.40. What is the current interest rate (assume that the bonds make annual coupon payments)?

Answer rating: 100% (QA)

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