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1 2 . Crane Corp. has 18-year bonds outstanding. These bonds, which pay interest semiannually, have a coupon rate of 10.960 percent and a yield

1 2 . Crane Corp. has 18-year bonds outstanding. These bonds, which pay interest semiannually, have a coupon rate of 10.960 percent and a yield to maturity of 9.6 percent. Assume face value is $1,00...

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