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A frim issues $200 million in ten-year bonds with an annual coupon rate of 6%. The firm uses a sinking fund to repurchase 8% of

A frim issues $200 million in ten-year bonds with an annual coupon rate of

6%. The firm uses a sinking fund to repurchase 8% of the bond issue on each

coupon payment date. What payment must they make on the tenth and final

coupon payment date?

a) $68 million.

b) $40 million.

c) $52 million.

d) $62 million.

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