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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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