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2. Suppose there are three coupon bonds, one is a callable bond, one is a puttable bond, and the third is a straight bond. Except

2. Suppose there are three coupon bonds, one is a callable bond, one is a puttable bond, and the third is a straight bond. Except for the embedded option part, they are exactly the same.

Which bond should be the most expensive?

Which one should be the least expensive?

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