What is the bond's nominal coupon interest rate?

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O’Brien Ltd.’s outstanding bonds have a $1,000 par value, and they mature in 25 years. They’re 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? a. 6.05% b. 6.37%


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