Question: Here is all we know about the bond: It is a $1000 par value semi-annual coupon bond and has exactly 20 years remaining until maturity.

Here is all we know about the bond: It is a $1000 par value semi-annual coupon bond and has exactly 20 years remaining until maturity. We know the yield to maturity is 8% and we can buy it for $1200.

What is the coupon rate?

Answer in percentage (for example 5 rather than 0.05)

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