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Assume that Microsoft bonds have just left the printer and have a stated coupon of$100 (a coupon rate of10%) and a yieldtomaturity of15%. The bonds

Assume that Microsoft bonds have just left the printer and have a stated coupon of$100 (a coupon rate of10%) and a yieldtomaturity of15%. The bonds mature in three years and the next coupon is due in one year. What is the fair price for the bondtoday?

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