Multiple Choice
A bond with 23 years to maturity is selling for $991 and has a yield to maturity of 8.12%. If this bond pays its coupon payments semi-annually and par value is $1,000, what is the bond's annual coupon rate?
A) 7.45%
B) 8.03%
C) 9.39%
D) 10.82%
Correct Answer:
Verified
Correct Answer:
Verified
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