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8. A 10-year bond, redeemable at par, has face-value 1,500 and 5% annual coupons. It is bought at a discount of 500. What is its

8. A 10-year bond, redeemable at par, has face-value 1,500 and 5% annual coupons. It is bought at a discount of 500. What is its accumulation of discount for the first year? (A) 22 (B) 24 (C) 26 (D) 28 (E) 30

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