Question: Weiga Enterprises issued a $800 face value bond that will mature in eight years. Similar bonds are yielding 8%, and the bond is currently seiling

 Weiga Enterprises issued a $800 face value bond that will mature

Weiga Enterprises issued a $800 face value bond that will mature in eight years. Similar bonds are yielding 8%, and the bond is currently seiling for $1292.65. Compute the coupon rate on this bond. Round intermediate calculations to four decimal places. Round the final answer to 2 decimal places. (In the real world, we generally aren't asked to find coupon rates but this qives you practice with the bond pricing formula.) (Hint: Substitute and solve for the coupon payment.) No \% sign on your answer. Write two decimal places in your

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