Determining the coupon rate of the bond

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Reference no: EM13738396

Problem:

Solvent Insurance, Inc issued a 10 year bond 3 years ago. The bonds are currently selling for 95% of par value, with an YTM of 6%.

Required:

Question: What is the coupon rate of the bond?

Note: Please provide step by step solution.

Reference no: EM13738396

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