Suppose a bond that has semiannual coupons is selling for $10,500. It has 7 years left until maturity. Its par value is $10,000 and its YTM is 7%. What is this bond’s annual coupon rate? (Show Work)

Essentials Of Investments
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Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
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Chapter1: Investments: Background And Issues
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  1. Suppose a bond that has semiannual coupons is selling for $10,500. It has 7 years left until maturity. Its par value is $10,000 and its YTM is 7%. What is this bond’s annual coupon rate? (Show Work)
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