What must the annual coupon rate be on the bond

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Reference no: EM131965526

Kathy wants to buy a bond on the market with 10 years to remaining maturity, a current yield to maturity of 10%, and a current price of 110 (110% of par value $1,000).

The bond makes semiannual payments. What must the annual coupon rate be on the bond?

Reference no: EM131965526

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