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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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