O'Brien Ltd.'s outstanding bonds have a $1,000 par value,and they mature in 25 years.Their nominal annual,not semiannual yield to maturity is 9.25%,they pay interest semiannually,and they sell at a price of $875.What is the bond's nominal coupon interest rate?

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First,use the data provided to find the dollar coupon payment per 6 months,then multiply by 2 to get the annual coupon,and then divide by the par value to find the coupon rate.One could use the indicated data and solve for the price.It would be $875,which confirms the rate. 11ea856c_8bd3_6302_9aec_b3c8571d9cc0_TB1222_00