Face value bond outstanding with a market price

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Reference no: EM131064082

The Boston Clothing Co. has $1,000 face value bond outstanding with a market price of $1,034. The bond pays interest annually, matures in 12 years, and has a yield to maturity of 8.3 percent. What is the coupon rate? (Enter rate in percents, accurate to two decimal places.)

Reference no: EM131064082

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