Question: Can you please provide the explanation, formula and correct answer for the problem above? Given the following information, what is the coupon rate of the

Can you please provide the explanation, formula and correct answer for

Can you please provide the explanation, formula and correct answer for the problem above?

Given the following information, what is the coupon rate of the bond? Years to maturity: 12 Par value: $1,000 Interest rate: 10% Current market price: $1,150 Coupon payments are made semiannually. Select one: a. .0911 C b. .1109 0 C. .1043 C d. .1217

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