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2. Microsoft (MSFT) issued a 3-year FRN indexed to 6 months $ @ L+7/8%. How much is the first coupon payment MSFT will pay per

2. Microsoft (MSFT) issued a 3-year FRN indexed to 6 months $ @ L+7/8%. How much is the first coupon payment MSFT will pay per $5,000 of the face value of FRN, if L now is 5 5/8%

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