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9. Suppose that a four-year FRN pays three-month Libor plus a quoted margin of 1.00% on a quarterly basis. Currently, three-month Libor is 1.55%. The

9. Suppose that a four-year FRN pays three-month Libor plus a quoted margin of 1.00% on a quarterly basis. Currently, three-month Libor is 1.55%. The discount margin is currently 1.20%. Calculate the price of the bond (DM > QM):

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