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A firm issues $300 million in ten-year bonds with an annual coupon rate of 7%. The firm uses a sinking fund to repurchase 9% of

A firm issues $300 million in ten-year bonds with an annual coupon rate of 7%. The firm uses a sinking fund to repurchase 9% of the bond issue on each coupon payment date. What payment must they make on the tenth and final coupon payment?

A. 47 million

B. 62 million

C. 55 million

D. 78 million

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