Find the coupon rate, Large Industries annual bonds are

Find the coupon rate

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Reference no: EM131860236

Large Industries annual bonds are selling at 94.20 (i.e., the price is $942 for the $1,000 bond). There are 11 years remaining until maturity on the bonds and the yield to maturity is 5.75%.

Find the coupon rate. (Note: you may have to use a trial and error solution method)

Reference no: EM131860236

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