Question: O'Brien Ltd . ' s outstanding bonds have a $ 1 , 0 0 0 par value, and they mature in 2 5 years. Their

O'Brien Ltd.'s outstanding bonds have a $1,000 par value, and they mature in 25 years. Their nominal yield to maturity is 9.25%, they pay interest semiannually, and they sell at a price of $975. What is the bond's nominal coupon interest rate? Show your work without using excel.

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