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Assume that on Apr 30th, 2019 you buy a five-year standard CDS that matures on June 20th, 2024. The notional value is $10 million, and

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Assume that on Apr 30th, 2019 you buy a five-year standard CDS that matures on June 20th, 2024. The notional value is $10 million, and the CDS is quoted as 120 bps and the standard spread is 100 bps. Given that there are 40 days between Mar 21st, 2019 and Apr 30th, 2019, what is the accrual upfront payment O $13,333 O $40,000 O $25,000 O $11,111

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