Question: A $1,000 par value bond has a current price of $747.12 and a maturity value of $1,000 and matures in 7 years. If interest

A $1,000 par value bond has a current price of $747.12 and

A $1,000 par value bond has a current price of $747.12 and a maturity value of $1,000 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? The bond's annual coupon rate is%. (Round to three decimal places.)

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