What coupon rate is attached to this bond

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Reference no: EM131318953

A bond issued on RunNow, Inc. were issued many years ago and have 10 years left to maturity. The bond pays coupons each year and returns the face value of $1,000 at maturity. The bond was originally issued at the par value, but since then the price has fallen to $692.77. The bond has a yield to maturity of 10%. Based on this information, what coupon rate is attached to this bond?

Reference no: EM131318953

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