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A firm issues five-year bonds with a coupon rate of 6.9%, paid semiannually. The credit spread for this firm's five-year debt is 0.8%. New] five-year

A firm issues five-year bonds with a coupon rate of 6.9%, paid semiannually. The credit spread for this firm's five-year debt is 0.8%. New] five-year Treasury notes are being issued at par with a coupon rate of 3.8%. What should the price of the firm's outstanding five-year bonds be per $100 of face value?

A.$ 88.14

$88.14

B.$ 110.17

$110.17

C.$ 132.20

$132.20

D.$ 154.24

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