Question: A $ 1 , 0 0 0 par value bond has a current price of $ 8 3 4 . 7 4 and a maturity

A $1,000 par value bond has a current price of $834.74 and a maturity value of $1000 and matures in 7 years. If interest is paid semiannually and the bond is priced to yield 8%, what is the bond's annual coupon rate?

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