What is the coupon rate on bonds

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Reference no: EM131056172

Merton Enterprise has bonds with face value of $1,000 on the market making semiannual payments, with 10 years to maturity, and selling for $1,223.47. At this price, the bonds yield 6%. What is the coupon rate on Merton's bonds?

a. 9% b. 8% c. 6% d. 7%

Reference no: EM131056172

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