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2. A fixed-income security promises to pay $75 each year for the next three years. If pure discount bonds are selling for 0.93, 0.86, and
2. A fixed-income security promises to pay $75 each year for the next three years. If pure discount bonds are selling for 0.93, 0.86, and 0.77 cents on the dollar for maturities of 1 year, 2 year, and 3 years, respectively, what is the price of the fixed income security?
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