Kaiser industries has bonds on the market annual payments, with 14 years to maturity, a par value of $1,000, and a current price of $1,108.60. At this price, bonds yield 7.5 percent. What is the coupon rate?

Intermediate Financial Management (MindTap Course List)
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ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter4: Bond Valuation
Section: Chapter Questions
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Kaiser industries has bonds on the market annual payments, with 14 years to maturity, a par value of $1,000, and a current price of $1,108.60. At this price, bonds yield 7.5 percent. What is the coupon rate?
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