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A 6 year Circular File bond pays interest of $80 annually and sells for $950. If Circular file wants to issue a new 6 year bond at face value, what coupon rate must the bond offer?

A 6 year Circular File bond pays interest of $80 annually and sells for $950.  If Circular file wants to issue a new 6 year bond at face value, what coupon rate must the bond offer?

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