Question: Ted's Co . offers a ten - year semi - annual coupon bond. The market interest rate is 1 2 % . The fair price

Ted's Co. offers a ten-year semi-annual coupon bond. The market interest rate is 12%. The fair price of this bond (bond value) is $1,171.975. What is the coupon rate? (Note: to calculate the coupon rate, first calculate the annual coupons.) step by step please!

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