Question: A bond has ten years until maturity. The face value on the bond is $1,000.00, while the coupon rate attached to the bond is 9.625%.

A bond has ten years until maturity. The face value on the bond is $1,000.00, while the coupon rate attached to the bond is 9.625%. The bond pays coupons on an annual basis. Investors seek a 5.49% return on the bond. What is the yearly coupon for this bond?

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