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A 3 year maturity, 14 % coupon bond will be repaid with equal instalments after a year of nonpayment. Market interest rate is forecast 13

A 3 year maturity, 14 % coupon bond will be repaid with equal instalments after a year of nonpayment. Market interest rate is forecast 13 % for the 1st year, 14% in the 2nd year ,and 15 % in the 3rd year.

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