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Compute the coupon rate on this bond

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Question - Tutak Industries issued a $1000 face value bond a number of years ago that will mature in eight years. Similar bonds are yielding 8%, and the Tutak bond is currently selling for $1292.65. Assume bond coupons are paid semiannually. Compute the coupon rate on this bond. Do not round intermediate calculations.

Reference no: EM132746880

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