Question: 1. A bond has a $1,000 face value, a current market price of $780, and pays semi-annual interest payments of $60 every year. What is

1. A bond has a $1,000 face value, a current market price of $780, and pays semi-annual interest payments of $60 every year. What is the coupon rate? Required: Compute the Annual Coupon Interest Rate for the Bond. Show procedure. ( 3 points)

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