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A firm issues eightyear bonds with a coupon rate of 5 8 paid quarterly The credit spread for this firm s eightyear debt is 1

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A firm issues eightyear bonds with a coupon rate of 5 8 paid quarterly The credit spread for this firm s eightyear debt is 1 5 New eightyear Treasury notes are being issued at par with a coupon rate of 2 1 What should the price of the firm s outstanding eightyear bonds be per 100 of face value 115 23

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