A bond with 14 years to maturity is selling for $1,070 and has a yield to maturity of 10.06 percent. If this bond pays its coupon payments semiannually and par value is $1,000, what is the bond's annual coupon rate?
A) 5.50 percent
B) 8.19 percent
C) 9.57 percent
D) 11.00 percent

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The Answer of A bond with 14 years to maturity is selling for $1,070 and has a yield to maturity of 10.06 percent. If this bond pays its coupon payments semiannually and par value is $1,000, what is the bond's annual coupon rate?
A) 5.50 percent
B) 8.19 percent
C) 9.57 percent
D) 11.00 percent

A Bond with 14 Years to Maturity Is Selling for $1,070