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A company has issued a series of debentures which have a face value of $600 and pay a quarterly coupon at a coupon rate of

A company has issued a series of debentures which have a face value of $600 and pay a quarterly coupon at a coupon rate of 8%. What is the value of each coupon payment?

Select one:

a. $24.50

b. $24.00

c. $12.00

d. $48.00

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