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3) (10 POINTS) You are working at a company building new crew vehicles for low cost space transport. Development costs will require a round of

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3) (10 POINTS) You are working at a company building new crew vehicles for low cost space transport. Development costs will require a round of funding partially financed by debt. Your boss would like to raise $20 million by selling 10 year bonds with a $100 face value. These bonds will pay coupons at an annual rate of 9% and repay the face value of the bond in the 10th period. a. (5 POINTS) Your boss has asked you to structure the debt contracts. If you have an MARR of 10%, what is the highest price you would be willing to sell this bond for? b. (5 POINTS) The market has determined the price of the bond to be $95 today. What is the yield (i.e. IRR) on this bond

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