A 24-year, semiannual coupon bond sells for $978.42. The bond has a par value of $1,000 and a yield to maturity of 6.84 percent. What is the bond’s coupon rate?

A 24-year, semiannual coupon bond sells for $978.42. The bond has a par value of $1,000 and a yield to maturity of 6.84 percent. What is the bond’s coupon rate?

A 24-year, semiannual coupon bond sells for $978.42. The bond has a par value of $1,000 and a yield to maturity of 6.84 percent. What is the bond’s coupon rate?