Remaining until maturity on bonds and the yield to maturity

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Reference no: EM131021027

Large Industries annual bonds are selling at 95.70 (i.e., the price is $957 for the $1,000 bond). There are 8 years remaining until maturity on the bonds and the yield to maturity is 6.25%. Find the coupon rate. (Note: you may have to use a trial and error solution method)

Reference no: EM131021027

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