A mortgage company is issuing a CMO with three tranches,with the principal and coupon rate given in the table below.When issued,the weighted average coupon on the CMO will be: 
Definitions:
User Cost
The opportunity cost of using a durable good or natural resource, factoring in depreciation and the forgone interest that could have been earned if the money was invested elsewhere.
Total Cost Curves
A graphical representation showing how the total cost of production changes with the level of output, typically upward sloping due to rising production costs.
Extraction Cost
The expenses associated with removing natural resources from the earth, such as mining or drilling.
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