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A company has issued a series of debentures which have a face value of $700 and pay a quarterly coupon at a coupon rate of

A company has issued a series of debentures which have a face value of $700 and pay a quarterly coupon at a coupon rate of 5%. What is the value of each coupon payment?

Select one:

a. $8.75

b. $16.50

c. $17.50

d. $35.00

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