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Assume that you are considering the purchase of a 20-year, noncallable bond with an annual coupon rate of 8.60 percent. The bond has a face

Assume that you are considering the purchase of a 20-year, noncallable bond with an annual coupon rate of 8.60 percent. The bond has a face valu $1,000, and It makes semiannual interest payments. If y...

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