Question: A $ 1 , 0 0 0 par value bond has a current price of $ 8 7 1 . 2 0 and a maturity

A $1,000 par value bond has a current price of $871.20 and a maturity value of $1,000 and matures in 5 years. If interest is paid semiannually and the bond is priced to yield 8%, what is the bond' annual coupon rate?
The bond's annual coupon rate is
%.(Round to three decimal places.)
A $1,000 par value bond has a current price of $871.20

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