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A firm issues ten-year bonds with an annual coupon rate of 6.5%. The credit spread for this firm's ten-year debt is 0.8% per year. New

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A firm issues ten-year bonds with an annual coupon rate of 6.5%. The credit spread for this firm's ten-year debt is 0.8% per year. New ten-year Treasury notes are being issued at par with an annual coupon rate of 5%. What should the price of the firm's outstanding ten-year bonds be per $100 of face value? $102.80 O $97.28 $98.27 $100.86 $105.20

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