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An investor purchases a zero coupon bond with 1 8 years to maturity at a price of $ 3 7 5 . 0 4 .

An investor purchases a zero coupon bond with 18 years to maturity at a price of $375.04. The bond has a par value of $1,000. What is the implicit interest for the first year? Assume semiannual compounding.
(A) $18.38
$21.53
$20.30
$20.00
$21.00
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